Core Viewpoint - United-Guardian, Inc. reported a significant increase in net sales and net income for FY 2024 compared to FY 2023, indicating strong performance in its key product segments [1][2]. Financial Performance - Net sales increased by 12% from $10,885,154 in 2023 to $12,181,971 in 2024 [1][4]. - Net income rose to $3,250,875 ($0.71 per share) in 2024, up from $2,581,370 ($0.56 per share) in 2023 [1][5]. - Income from operations improved to $3,646,789 in 2024 from $2,863,032 in 2023 [4]. - Total costs and expenses increased from $8,022,122 in 2023 to $8,535,182 in 2024 [4]. Segment Performance - Sales of cosmetics ingredients surged by 32%, attributed to increased orders from the largest distributor and higher demand in China [2]. - Medical lubricants sales grew by 16%, driven by demand from a major contract manufacturer in China [2]. - Pharmaceutical sales experienced a decline of 5% due to a supply disruption of Renacidin, which affected sales in early 2024 [2]. Balance Sheet Highlights - Total assets increased to $13,797,335 in 2024 from $12,922,838 in 2023 [7]. - Stockholders' equity rose to $11,882,866 in 2024, compared to $11,388,582 in 2023 [7]. - Current assets also saw an increase, reaching $12,665,551 in 2024 from $12,252,713 in 2023 [7].
United-Guardian Reports 2024 Financial Results