NASDAQ$UTMD
Utah Medical Products Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Demonstrated continuing performance improvement despite challenges related to the corona virus pandemic.
Utah Medical Products, Inc. reported a strong fourth quarter and year-end 2021, demonstrating a remarkable recovery compared to 2020. The company exceeded its objective to fully recover back to its 2019 financial performance, with consolidated sales up across all product categories for the year. Profit margins have returned to levels more consistent with longer-term management expectations, and the balance sheet continued to strengthen.
- Total consolidated 4Q 2021 UTMD worldwide sales were $903 (+7.5%) higher than in 4Q 2020.
- Domestic U.S. sales in 4Q 2021 were $8,105 compared to $6,960 in 4Q 2020.
- Net Income in 4Q 2021 was 21.1% higher than in 4Q 2020.
- The company paid $8,349 in dividends to stockholders in 4Q 2021 compared to $1,018 paid in 4Q 2020.
Headline financials
Revenue & EPS history
Utah Medical · Revenue · Quarterly
$12.9M
Revenue by segment
Utah Medical · $7.98M total across 3 segments · Q1 2022
- Direct Sales$3.99M—50.0%
- OEM Sales$2.72M+42.6%34.0%
- Filshie Device Sales$1.28M—16.0%
Forward guidance
Management projects adjusted consolidated EBITDA for year 2022 is more likely to be $30 million.
Tailwinds
- Projected enterprise value would be $511 million or about $139.00/share with 3.68 million diluted shares.
- The company retains the strong desire and financial ability for repurchasing its shares at a price it believes is attractive for remaining stockholders.
- Achieving substantially higher revenues with an expanded GPM while keeping operating expenses about the same obviously had an extremely positive effect on this key profitability metric.
- The company's balance sheet continued to strengthen.
- Profit margins in 2021 have returned to levels more consistent with longer term management expectations.
Headwinds
- Managing variable manufacturing costs will continue to be a significant challenge in 2022.
- The growing administrative burden of compliance with regulatory requirements, particularly OUS, continues to pressure UTMD’s GPM.
- There is a recent medical trend post C-section to perform a salpingectomy/oophorectomy (removal of Fallopian tubes and/or ovaries) instead of tubal ligation.
- Investors are cautioned that this press release contains forward looking statements and that actual events may differ from those projected.
- Risk factors that could cause results to differ materially from those projected include global economic conditions, market acceptance of products, regulatory approvals of products, regulatory intervention in current operations, government intervention in healthcare in general, tax reforms, the Company’s ability to efficiently manufacture, market and sell products, cybersecurity and foreign currency exchange rates, among other factors that have been and will be outlined in UTMD’s public disclosure filings with the SEC.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2021
-0.1%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+0.7%
Avg return
30 days after
43%
28 / 65 earnings
Positive
+6.8%
Q2 2019
Best reaction
-11.7%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | -4.3% | -7.5% | |
| Q4 2025 | +1.2% | +1.9% | +9.5% | |
| Q3 2025 | -1.1% | -1.9% | -6.0% | |
| Q1 2025 | -0.2% | +0.9% | +4.3% | |
| Q4 2024 | -1.8% | -4.6% | -6.9% | |
| Q3 2024 | -0.3% | -0.2% | +1.4% | |
| Q2 2024 | -7.4% | -7.2% | -8.6% | |
| Q1 2024 | -1.8% | -1.4% | -0.2% | |
| Q4 2023 | -4.3% | -7.0% | -15.2% | |
| Q3 2023 | -3.1% | +0.0% | +4.2% | |
| Q2 2023 | +0.0% | +0.5% | -2.8% | |
| Q1 2023 | +0.8% | +0.8% | -0.6% | |
| Q4 2022 | +3.9% | +5.5% | +4.7% | |
| Q3 2022 | +3.5% | -1.3% | -0.1% | |
| Q2 2022 | +3.6% | +6.3% | +6.7% | |
| Q1 2022 | -1.2% | -3.1% | -4.6% | |
| Q4 2021 | -3.4% | -0.3% | -5.9% | |
| Q3 2021 | +4.7% | +1.7% | +30.7% | |
| Q2 2021 | +0.2% | +2.9% | -0.2% | |
| Q1 2021 | +0.6% | +0.8% | -0.4% | |
| Q4 2020 | +3.5% | +5.7% | +0.8% | |
| Q3 2020 | -3.4% | -1.7% | +6.3% | |
| Q2 2020 | -5.3% | -7.6% | -6.7% | |
| Q1 2020 | -1.8% | +4.5% | +11.7% | |
| Q4 2019 | -11.7% | -13.9% | -16.2% | |
| Q3 2019 | +1.1% | +7.1% | +9.2% | |
| Q2 2019 | +6.8% | +9.3% | +15.6% | |
| Q1 2019 | -0.8% | -1.5% | -5.2% | |
| Q4 2018 | +3.4% | +5.1% | -5.2% | |
| Q3 2018 | +0.7% | +1.7% | +8.8% | |
| Q2 2018 | -1.7% | +2.1% | -5.8% | |
| Q1 2018 | -2.2% | -2.7% | -2.7% | |
| Q4 2017 | -0.2% | +0.2% | -3.0% | |
| Q3 2017 | +0.3% | +1.1% | +6.6% | |
| Q2 2017 | -0.4% | -2.7% | -1.1% | |
| Q1 2017 | +0.4% | -0.2% | +3.7% | |
| Q4 2016 | -1.2% | +1.0% | +1.1% | |
| Q3 2016 | +0.8% | +1.1% | +10.4% | |
| Q2 2016 | -1.3% | -2.0% | -2.6% | |
| Q1 2016 | +1.8% | — | — | |
| Q4 2015 | +0.9% | — | — | |
| Q3 2015 | +4.6% | — | — | |
| Q2 2015 | -3.2% | — | — | |
| Q1 2015 | +2.1% | — | — | |
| Q4 2014 | -4.7% | — | — | |
| Q3 2014 | -0.0% | — | — | |
| Q2 2014 | +2.8% | — | — | |
| Q1 2014 | -6.5% | — | — | |
| Q4 2013 | +1.4% | — | — | |
| Q3 2013 | -0.7% | — | — | |
| Q2 2013 | +0.7% | — | — | |
| Q1 2013 | +3.6% | — | — | |
| Q4 2012 | +6.8% | — | — | |
| Q4 2011 | +6.8% | — | — | |
| Q3 2012 | +1.9% | — | — | |
| Q2 2012 | -0.1% | — | — | |
| Q1 2011 | -0.1% | — | — | |
| Q1 2012 | -0.7% | — | — | |
| Q4 2009 | -0.8% | — | — | |
| Q3 2010 | -2.3% | — | — | |
| Q3 2011 | -2.3% | — | — | |
| Q4 2010 | -1.4% | — | — | |
| Q2 2011 | -1.4% | — | — | |
| Q2 2010 | -1.4% | — | — | |
| Q1 2010 | +4.4% | — | — |
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