United-Guardian Reports 2024 Financial Results

HAUPPAUGE, N.Y., March 21, 2025 (GLOBE NEWSWIRE) -- United-Guardian, Inc. $(UG)$ reported that net sales and net income for FY 2024 increased compared to FY 2023. Net sales for the year increased by 12% from $10,885,154 in 2023 to $12,181,971 in 2024, generating net income of $3,250,875 ($0.71 per share) in 2024 compared to $2,581,370 ($0.56 per share) in 2023.

Donna Vigilante, President of United-Guardian, stated, "We are pleased to announce that net sales and net income increased from 2023 to 2024. Sales of cosmetics ingredients and medical lubricants increased by 32% and 16%, respectively. The increase in cosmetic ingredient sales was primarily due to increased purchase orders from our largest distributor. Based on feedback from our distributor, the increase was due to greater demand for our products in China as a result of regaining market share at certain key accounts. The increase in medical lubricants was driven by greater demand from one of our large contract manufacturer customers in China. Pharmaceutical sales decreased by 5% in 2024, due to a supply disruption of Renacidin, our main pharmaceutical product, that we experienced at the end of 2023 and carried into the first quarter of 2024. This disruption impacted our sales of Renacidin for 2024. Sales began increasing once supply levels resumed, and we are hopeful that sales of Renacidin will return to their previous levels in 2025."

United-Guardian is a manufacturer of cosmetic ingredients, sexual wellness ingredients, pharmaceuticals, and medical lubricants.

 
   Contact:    Donna Vigilante 
                  (631) 273-0900 
              dvigilante@u-g.com 
 

NOTE: This press release contains both historical and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements about the company's expectations or beliefs concerning future events, such as financial performance, business prospects, and similar matters, are being made in reliance upon the "safe harbor" provisions of that Act. Such statements are subject to a variety of factors that could cause our actual results or performance to differ materially from the anticipated results or performance expressed or implied by such forward-looking statements. For further information about the risks and uncertainties that may affect the company's business please refer to the company's reports and filings with the Securities and Exchange Commission.

 
 
           FINANCIAL RESULTS AS OF AND FOR THE YEARS ENDED 
                      DECEMBER 31, 2024 AND 2023 
                         STATEMENTS OF INCOME 
 
                                          Years ended December 31, 
                                             2024           2023 
                                        ---------------  ----------- 
 
Net sales                                $   12,181,971  $10,885,154 
                                            -----------   ---------- 
 
Costs and expenses: 
  Cost of sales                               5,721,584    5,479,566 
  Operating expenses                          2,356,819    2,078,564 
  Research and development                      456,779      463,992 
                                            -----------   ---------- 
    Total costs and expenses                  8,535,182    8,022,122 
                                            -----------   ---------- 
     Income from operations                   3,646,789    2,863,032 
                                            -----------   ---------- 
Other income: 
  Investment income                             434,679      306,651 
  Net gain on marketable securities              26,989       81,095 
                                            -----------   ---------- 
    Total other income                          461,668      387,746 
                                            -----------   ---------- 
 
     Income before provision for 
      income taxes                            4,108,457    3,250,778 
 
Provision for income taxes                      857,582      669,408 
                                            -----------   ---------- 
      Net income                         $    3,250,875  $ 2,581,370 
                                            ===========   ========== 
 
Earnings per common share (basic and 
 diluted)                                $         0.71  $      0.56 
                                            ===========   ========== 
 
Weighted average shares (basic and 
 diluted)                                     4,594,319    4,594,319 
 
 
 
                          BALANCE SHEET DATA 
                              (condensed) 
 
                                                   December 31, 
                                                2024         2023 
 
Current assets:                             $12,665,551  $12,252,713 
Deferred income taxes, net                      175,397       50,930 
Property, plant, and equipment, net             956,387      619,195 
    Total assets                             13,797,335   12,922,838 
                                             ----------   ---------- 
 
Current liabilities:                          1,914,469    1,534,256 
    Total liabilities                         1,914,469    1,534,256 
                                             ----------   ---------- 
 
Stockholders' equity                         11,882,866   11,388,582 
      Total liabilities and stockholders' 
       equity                               $13,797,335  $12,922,838 
                                             ----------   - 

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March 21, 2025 09:00 ET (13:00 GMT)