3 unchanged sentences
CONSOLIDATED CONDENSED BALANCE SHEETS AS OF
−Removed: JUNE 30, 2024 AND DECEMBER 31, 2023
+Added: SEPTEMBER 30, 2024 AND DECEMBER 31, 2023
(in thousands)
−Removed: JUNE 30, 2024
+Added: SEPTEMBER 30, 2024
DECEMBER 31, 2023
21 unchanged sentences
authorized - 50,000 shares;
−Removed: issued and outstanding - June 30, 2024, 3,499 shares and December 31, 2023, 3,630 shares
−Removed: Accumulated other comprehensive loss
+Added: issued - September 30, 2024, 3,441 shares and December 31, 2023, 3,630 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, 2024 AND JUNE 30, 2023
+Added: THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND SEPTEMBER 30, 2023
(in thousands, except per share amounts - unaudited)
Three Months Ended
−Removed: Six Months Ended
−Removed: June 30, 2024
−Removed: June 30, 2023
−Removed: June 30, 2024
−Removed: June 30, 2023
+Added: Nine Months Ended
+Added: September 30, 2024
+Added: September 30, 2023
+Added: September 30, 2024
+Added: September 30, 2023
Cost of goods sold
2 unchanged sentences
Research & development
−Removed: Total operating expenses
+Added: Total operating expense
Operating income
12 unchanged sentences
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
−Removed: FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND JUNE 30, 2023
+Added: FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024 AND SEPTEMBER 30, 2023
(in thousands - unaudited)
−Removed: Six Months Ended
+Added: Nine Months Ended
+Added: September 30,
CASH FLOWS FROM OPERATING ACTIVITIES:
25 unchanged sentences
Effect of exchange rate changes on cash
−Removed: Net increase in cash and cash equivalents
+Added: Net increase/(decrease) in cash and cash equivalents
Cash at beginning of period
5 unchanged sentences
UTAH MEDICAL PRODUCTS, INC.
+Added: AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY FOR THE
−Removed: THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2024 AND 2023
+Added: THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND SEPTEMBER 30, 2023
(In thousands - unaudited)
1 unchanged sentence
Stockholders'
−Removed: Income (Loss)
−Removed: Balance at December 31, 2023
−Removed: Shares issued upon exercise of employee
−Removed: stock options for cash
+Added: Balance at June 30, 2024
Stock option compensation expense
2 unchanged sentences
Common stock dividends
−Removed: Balance at March 31, 2024
+Added: Balance at September 30, 2024
+Added: Balance at December 31, 2023
Shares issued upon exercise of employee
4 unchanged sentences
Common stock dividends
+Added: Balance at September 30, 2024
Balance at June 30, 2023
−Removed: Balance at December 31, 2022
Shares issued upon exercise of employee
3 unchanged sentences
Common stock dividends
−Removed: Balance at March 31, 2023
+Added: Balance at September 30, 2023
+Added: Balance at December 31, 2022
Shares issued upon exercise of employee
3 unchanged sentences
Common stock dividends
−Removed: Balance at June 30, 2023
+Added: Balance at September 30, 2023
see notes to consolidated condensed financial statements
UTAH MEDICAL PRODUCTS, INC.
+Added: AND SUBSIDIARIES
NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
5 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, 2024 and December 31, 2023 consisted of the following:
−Removed: June 30, 2024
+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, 2024, and December 31, 2023, consisted of the following:
+Added: September 30, 2024
December 31, 2023
3 unchanged sentences
(4) Stock-Based Compensation.
−Removed: At June 30, 2024, the Company has stock-based employee compensation plans which authorize the grant of stock options to eligible employees and directors.
+Added: At September 30, 2024, 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, 2024 and 2023, the Company recognized $ 52 and $ 50 , respectively, in stock based compensation cost.
−Removed: In the six months ended June 30, 2024 and 2023, the Company recognized $ 131 and $ 100 , respectively, in stock based compensation expense.
+Added: In the quarters ended September 30, 2024, and 2023, the Company recognized $ 53 and $ 53 , respectively, in stock based compensation cost.
+Added: In the nine months ended September 30, 2024, and 2023, the Company recognized $ 184 and $ 153 , 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.
−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, 2023 or June 30, 2024.
+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, 2023, or September 30, 2024.
(6) Global 3Q 2024 revenues (USD) by product category:
+Added: Labor & Delivery
Gynecology/Electrosurgery/Urology
Blood Pressure Monitoring and Accessories*
−Removed: Global 1H 2024 revenues (USD) by product category:
+Added: Global 9M 2024 revenues (USD) by product category:
+Added: Labor & Delivery
Gynecology/Electrosurgery/Urology
Blood Pressure Monitoring and Accessories*
+Added: *includes assemblies and molded components sold to OEM customers.
(7) Distribution Agreement Purchase.
1 unchanged sentence
distribution rights for the Filshie® Clip System from CooperSurgical, Inc.
−Removed: (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 expenses over the 4.75 year remaining life of the CSI distribution agreement with Femcare Ltd which ended in October 2023.
+Added: (CSI) as of February 1, 2019.
+Added: The $ 21,000 purchase price represented an identifiable intangible asset which was straight-line amortized and recognized as part of G&A expenses over the 4.75 year remaining life of the CSI distribution agreement with Femcare Ltd.
(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.
−Removed: Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock on June 30, 2024.
+Added: 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 2024.
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
5 unchanged sentences
UTMD has evaluated subsequent events through the date the financial statements were issued, and concluded there were no other events or transactions during this period that required recognition or disclosure in its financial statements.
−Removed: After June 30, 2024 through August 8, 2024, the Company made additional repurchases of 21,785 shares of its stock in the open market for $ 1,441 , at an average price of $ 66.15 per share.
+Added: After September 30, 2024 through November 11, 2024, the Company made additional repurchases of 48,905 shares of its stock in the open market for $ 3,164 , at an average price of $ 64.70 per share.
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.