What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2023-05-05 compared with 2022-11-10 · 25 added, 59 removed, 140 unchanged (38% of the section changed)

3 unchanged sentences

CONSOLIDATED CONDENSED BALANCE SHEETS AS OF

SEPTEMBER 30, 2022 AND DECEMBER 31, 2021

MARCH 31, 2023 AND DECEMBER 31, 2022

(in thousands)

SEPTEMBER 30, 2022

MARCH 31, 2023

DECEMBER 31, 2022

5 unchanged sentences

Property and equipment, net

Operating lease – right-of-use assets, net

Other intangible assets

8 unchanged sentences

Other long term liabilities

Operating lease liability

Long-term lease liability

Deferred income taxes

3 unchanged sentences

authorized - 50,000 shares;

issued - September 30, 2022, 3,625 shares and December 31, 2021, 3,655 shares

Accumulated other comprehensive income (loss)

issued and outstanding - March 31, 2023, 3,628 shares and December 31, 2022, 3,628 shares

Accumulated other comprehensive loss

Additional paid-in capital

6 unchanged sentences

CONSOLIDATED CONDENSED STATEMENTS OF INCOME FOR THE

THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2022 AND SEPTEMBER 30, 2021

THREE MONTHS ENDED MARCH 31, 2023 AND MARCH 31, 2022

(in thousands, except per share amounts - unaudited)

THREE MONTHS ENDED

Nine Months Ended

September 30, 2022

September 30, 2021

September 30, 2022

September 30, 2021

Cost of goods sold

17 unchanged sentences

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022 AND SEPTEMBER 30, 2021

FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND MARCH 31, 2022

(in thousands - unaudited)

Nine Months Ended

September 30,

THREE MONTHS ENDED

CASH FLOWS FROM OPERATING ACTIVITIES:

1 unchanged sentence

cash provided by operating activities:

Provision for (recovery of) losses on accounts receivable

Provision for losses on accounts receivable

Amortization of right-of-use assets

12 unchanged sentences

Property and equipment

Intangible assets

Net cash used in investing activities

1 unchanged sentence

Proceeds from issuance of common stock - options

Common stock purchased and retired

Payment of dividends

Net cash used in financing activities

Net cash provided by/(used in) financing activities

Effect of exchange rate changes on cash

7 unchanged sentences

UTAH MEDICAL PRODUCTS, INC.

AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY FOR THE

THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2022 AND SEPTEMBER 30, 2021

THREE MONTHS ENDED MARCH 31, 2023 AND MARCH 31, 2022

(in thousands - unaudited)

1 unchanged sentence

Stockholders'

Balance at June 30, 2022

Shares issued upon exercise of employee

stock options for cash

Stock option compensation expense

Foreign currency translation adjustment

Common stock dividends

Balance at September 30, 2022

Balance at December 31, 2022

Shares issued upon exercise of employee

stock options for cash

Stock option compensation expense

Common stock purchased and retired

Foreign currency translation adjustment

Common stock dividends

Balance at September 30, 2022

Balance at June 30, 2021

Shares issued upon exercise of employee

stock options for cash

Shares issued upon exercise of employee stock options for cash

Stock option compensation expense

1 unchanged sentence

Common stock dividends

Balance at September 30, 2021

Balance at March 31, 2023

Balance at December 31, 2021

Shares issued upon exercise of employee

stock options for cash

Shares issued upon exercise of employee stock options for cash

Stock option compensation expense

1 unchanged sentence

Common stock dividends

Balance at September 30, 2021

Balance at March 31, 2022

see notes to consolidated condensed financial statements

8 unchanged sentences

(2) Recent Accounting Standards.

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.

(3) Inventories at September 30, 2022, and December 31, 2021, consisted of the following:

September 30, 2022

The Company has determined that 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.

(3) Inventories at March 31, 2023 and December 31, 2022 consisted of the following:

March 31, 2023

December 31, 2022

3 unchanged sentences

(4) Stock-Based Compensation.

At September 30, 2022, the Company has stock-based employee compensation plans which authorize the grant of stock options to eligible employees and directors.

At March 31, 2023, 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.

In the quarters ended September 30, 2022, and 2021, the Company recognized $ 38 and $ 41 , respectively, in stock based compensation cost.

In the nine months ended September 30, 2022, and 2021, the Company recognized $ 121 and $ 123 , respectively, in stock based compensation cost.

In the quarters ended March 31, 2023 and 2022, the Company recognized $ 50 and $ 43 , respectively, in stock based compensation cost.

(5) Warranty Reserve.

4 unchanged sentences

The amount of this reserve is adjusted, as required, to reflect its actual experience.

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, 2021, or September 30, 2022.

(6) Global 3Q 2022 revenues (USD) by product category:

Labor & Delivery

Gynecology/Electrosurgery/Urology

Blood Pressure Monitoring and Accessories

Global 9M 2022 revenues (USD) by product category:

Labor & Delivery

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, 2022 or March 31, 2023.

(6) 1Q 2023 global revenues (USD) by product category:

Gynecology/Electrosurgery/Urology

4 unchanged sentences

(CSI) on February 1, 2019.

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 1.08 year life as of September 30, 2022 of the prior CSI distribution agreement with Femcare Ltd.

The $ 21,000 purchase price represents an identifiable intangible asset which is being straight-line amortized and recognized as part of G&A expenses over the 7 month remaining life, as of the end of 1Q 2023, of the prior CSI agreement with Femcare.

(8) 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.

Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock at the end of 3rd quarter 2022.

Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock at the end of first quarter 2023.

The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:

1 unchanged sentence

Three months ended

Nine months ended

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.

What changed 10-Q

Item 1. Financial Statements