3 unchanged sentences
CONSOLIDATED CONDENSED BALANCE SHEETS AS OF
−Removed: JUNE 30, 2020 AND DECEMBER 31, 2019
+Added: SEPTEMBER 30, 2020 AND DECEMBER 31, 2019
(in thousands)
−Removed: JUNE 30, 2020
+Added: SEPTEMBER 30, 2020
DECEMBER 31, 2019
25 unchanged sentences
authorized - 50,000 shares;
−Removed: issued - June 30, 2020, 3,643 shares and December 31, 2019, 3,722 shares
−Removed: Accumulated other comprehensive loss
+Added: issued - September 30, 2020, 3,640 shares and December 31, 2019, 3,722 shares
+Added: Accumulated other comprehensive income (loss)
Additional paid-in capital
6 unchanged sentences
CONSOLIDATED CONDENSED STATEMENTS OF INCOME FOR THE
−Removed: THREE AND SIX MONTHS ENDED JUNE 30, 2020 AND JUNE 30, 2019
+Added: THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2020 AND SEPTEMBER 30, 2019
(in thousands, except per share amounts - unaudited)
Three Months Ended
−Removed: Six Months Ended
−Removed: June 30, 2020
−Removed: June 30, 2019
−Removed: June 30, 2020
−Removed: June 30, 2019
+Added: Nine Months Ended
+Added: September 30, 2020
+Added: September 30, 2019
+Added: September 30, 2020
+Added: September 30, 2019
Cost of goods sold
4 unchanged sentences
Operating income
+Added: Other income (expense)
Income before provision for income taxes
11 unchanged sentences
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
−Removed: FOR THE SIX MONTHS ENDED JUNE 30, 2020 AND JUNE 30, 2019
+Added: FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2020 AND SEPTEMBER 30, 2019
(in thousands - unaudited)
−Removed: Six Months Ended
+Added: Nine Months Ended
+Added: September 30,
CASH FLOWS FROM OPERATING ACTIVITIES:
3 unchanged sentences
Amortization of Right-of-Use Assets
+Added: (Gain) loss on disposal of assets
Deferred income taxes
27 unchanged sentences
UTAH MEDICAL PRODUCTS, INC.
−Removed: CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY FOR THE
−Removed: THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2020 AND 2019
+Added: CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY FOR THE
+Added: THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2020 AND SEPTEMBER 30, 2019
(In thousands - unaudited)
1 unchanged sentence
Stockholders'
−Removed: Balance at December 31, 2019
+Added: Balance at June 30, 2020
Shares issued upon exercise of employee
4 unchanged sentences
Common stock dividends
−Removed: Balance at March 31, 2020
+Added: Balance at September 30, 2020
+Added: Balance at December 31, 2019
Shares issued upon exercise of employee
4 unchanged sentences
Common stock dividends
+Added: Balance at September 30, 2020
Balance at June 30, 2019
−Removed: Balance at December 31, 2018
Shares issued upon exercise of employee
4 unchanged sentences
Common stock dividends
−Removed: Balance at March 31, 2019
+Added: Balance at September 30, 2019
+Added: Balance at December 31, 2018
Shares issued upon exercise of employee
4 unchanged sentences
Common stock dividends
−Removed: Balance at June 30, 2019
+Added: Balance at September 30, 2019
see notes to consolidated condensed financial statements
8 unchanged sentences
(2) Recent Accounting Standards.
−Removed: The Company has determined that recently issued accounting standards will either have no material impact on its consolidated financial position or results of operations or cash flows, or will not apply to its operations.
−Removed: (3) Inventories at June 30, 2020 and December 31, 2019 consisted of the following:
−Removed: June 30, 2020
+Added: The Company has determined that other recently issued accounting standards will either have no material impact on its consolidated financial position, results of operations or cash flows, or will not apply to its operations.
+Added: (3) Inventories at September 30, 2020, and December 31, 2019, consisted of the following:
+Added: September 30, 2020
December 31, 2019
3 unchanged sentences
(4) Stock-Based Compensation.
−Removed: At June 30, 2020, the Company has stock-based employee compensation plans which authorize the grant of stock options to eligible employees and directors.
+Added: At September 30, 2020, the Company has stock-based employee compensation plans which authorize the grant of stock options to eligible employees and directors.
The Company accounts for stock compensation under FASB Accounting Standards Codification (“ASC”) 718, Compensation - Stock Compensation .
This statement requires the Company to recognize compensation cost based on the grant date fair value of options granted to employees and directors.
−Removed: In the quarters ended June 30, 2020 and 2019, the Company recognized $ 49 and $ 28 , respectively, in stock based compensation cost.
−Removed: In the six months ended June 30, 2020 and 2019, the Company recognized $ 72 and $ 56 , respectively, in stock based compensation cost.
+Added: In the quarters ended September 30, 2020, and 2019, the Company recognized $ 49 and $ 29 , respectively, in stock based compensation cost.
+Added: In the nine months ended September 30, 2020, and 2019, the Company recognized $ 121 and $ 85 , respectively, in stock based compensation cost.
(5) Warranty Reserve.
1 unchanged sentence
“UTMD warrants its products to conform in all material respects to all published product specifications in effect on the date of shipment, and to be free from defects in material and workmanship for a period of thirty (30) days for supplies, or twenty-four (24) months for equipment, from date of shipment.
−Removed: During the warranty period UTMD shall, at its option, replace any products shown to UTMD's reasonable satisfaction to be defective at no expense to the Purchaser or refund the purchase price.” UTMD maintains a warranty reserve to provide for estimated costs which are likely to occur.
+Added: During the warranty period UTMD shall, at its option, replace any products shown to UTMD's reasonable satisfaction to be defective at no expense to the Purchaser or refund the purchase price.”
+Added: UTMD maintains a warranty reserve to provide for estimated costs which are likely to occur.
The amount of this reserve is adjusted, as required, to reflect its actual experience.
−Removed: Based on its analysis of historical warranty claims and its estimate that existing warranty obligations were immaterial, no warranty reserve was made at December 31, 2019, or June 30, 2020.
+Added: Based on its analysis of historical warranty claims and its estimate that existing warranty obligations were immaterial, no warranty reserve was made at December 31, 2019, or September 30, 2020.
(6) Global 3Q 2020 revenues (USD) by product category:
1 unchanged sentence
Blood Pressure Monitoring and Accessories
−Removed: Global 1H 2020 revenues (USD) by product category:
+Added: Global 9M 2020 revenues (USD) by product category:
Gynecology/Electrosurgery/Urology
1 unchanged sentence
UTMD has operating leases for a portion of its parking lot at its Midvale facility and an automobile at its Ireland facility.
−Removed: The remaining lease term on the parking lot is 11 years and on the automobile is 18 months.
+Added: The remaining lease term on the parking lot is 11 years and on the automobile it is 16 months.
There are no options to extend or terminate the leases.
2 unchanged sentences
The components of lease cost were as follows:
−Removed: Three Months Ended June 30, 2020
+Added: Three Months Ended September 30, 2020
Operating Lease Cost ( in thousands )
−Removed: Right of Use Assets obtained in exchange for new operating lease
+Added: Right of Use Assets obtained in exchange for new operating lease Obligations
Other Information
−Removed: Three Months Ended June 30, 2020
+Added: Three Months Ended September 30, 2020
Weighted Average Remaining Lease Term - Operating Leases
14 unchanged sentences
( in thousands )
+Added: Maturities of lease liabilities were as follows:
+Added: ( in thousands )
Year ending December 31,
3 unchanged sentences
(CSI) on February 1, 2019.
−Removed: The $ 21,000 purchase price represented an identifiable intangible asset which is being straight-line amortized and recognized as part of G&A expenses over a remaining 3.33 year life as of June 30, 2020 of the prior CSI distribution agreement with Femcare.
+Added: The $ 21,000 purchase price represented an identifiable intangible asset which is being straight-line amortized and recognized as part of G&A expenses over a remaining 3.08 year life as of September 30, 2020 of the prior CSI distribution agreement with Femcare.
(9) Earnings Per Share.
Basic earnings per share is calculated by dividing net income attributable to the common stockholders of the company by the weighted average number of common shares outstanding during the period.
−Removed: Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock at the end of 2 nd quarter 2020.
+Added: Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock at the end of 3 rd quarter 2020.
The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:
1 unchanged sentence
Three months ended
−Removed: Six months ended
+Added: Nine months ended
+Added: September 30,
+Added: September 30,
Weighted average shares, basic
6 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.