Core Insights - United-Guardian, Inc. reported a decline in sales and net income for both the third quarter and the first nine months of 2025 compared to the same periods in 2024 [1][2]. Financial Performance - For the nine-month period ended September 30, 2025, sales decreased from $9,705,262 in 2024 to $7,583,613 in 2025, representing a decline of approximately 22% [1]. - Net income for the same period fell from $2,747,151 ($0.60 per share) in 2024 to $1,456,162 ($0.32 per share) in 2025, a decrease of about 47% [1]. - In the third quarter, sales dropped from $3,060,113 in 2024 to $2,264,261 in 2025, a decline of around 26% [1]. - Net income for the third quarter decreased from $865,484 ($0.19 per share) in 2024 to $268,441 ($0.06 per share) in 2025, a reduction of approximately 69% [1]. Segment Performance - Sales of pharmaceutical products increased by 10% and medical products by 6% during the first nine months of 2025 compared to the same period in 2024 [2]. - However, there was a decrease in sales of cosmetic ingredients in the third quarter of 2025, primarily due to reduced purchases by Ashland Specialty Ingredients (ASI), the company's largest marketing partner [2]. - ASI faced challenges related to tariffs and geopolitical issues in Asia, leading to a shift towards lower-cost local products by some customers [2]. Future Outlook - The company is optimistic about increasing sales of Renacidin, its most important pharmaceutical product, through new marketing strategies and partnerships [2]. - Recent marketing agreements for new personal care products are expected to provide opportunities for revenue growth in the coming years [2].