Shares of Utah Medical Products, Inc. (UTMD) have gained 0.8% since the company reported its earnings for the quarter ended March 31, 2025, underperforming the broader S&P 500 index, which rose 2.8% during the same period. Over the past month, UTMD shares have declined 3.2%, lagging significantly behind the S&P 500’s 12.3% growth, suggesting muted investor enthusiasm following the latest quarterly results.For the first quarter of 2025, UTMD reported earnings per share (EPS) of 92 cents, a 16% decline compar ...

EXHIBIT 99.1 Utah Medical Products, Inc. Reports Financial Performance for First Quarter 2025 April 29, 2025 Contact: Brian Koopman (801) 566-1200 Salt Lake City, Utah – In the first calendar quarter (1Q) of 2025, Utah Medical Products, Inc. (Nasdaq: UTMD) attained financial results consistent with its previously announced projections for calendar year 2025. Summary of results. The following is a summary comparison of 1Q 2025 with 1Q 2024 income statement measures: | Revenues (Sales): | | | (14.4%) | | --- ...

Group 1 - The investment landscape is increasingly competitive, prompting a focus on value investing principles from renowned investors like Benjamin Graham and Warren Buffett [2] - The analysis emphasizes uncovering investment opportunities in overlooked micro-cap and small-cap stocks, which are often neglected by larger investment firms [2] - A fundamental, bottom-up investment approach is adopted, considering factors such as management quality, company incentives, and capital allocation [2] Group 2 - The analyst has over 10 years of experience in the financial sector and aims to present investment opportunities in a clear and comprehensive manner [2] - Engagement with the investment community is encouraged, inviting questions and new ideas [2]

Sales and Revenue Performance - UTMD's consolidated sales from four acquisitions comprised 56% of total sales in 2024[16]. - In 2024, UTMD's worldwide revenues decreased by 18.6% to $40.9 million compared to $50.2 million in 2023[145]. - Total global revenues for UTMD in 2024 were $40,903, down 18.5% from $50,224 in 2023, with significant declines in the blood pressure monitoring category[186]. - U.S. domestic sales in 2024 were $23,444, down $4,759 (16.9%) from $28,204 in 2023, with OEM sales declining by $3,857 (45.7%)[173]. - OUS sales in 2024 were $17,458, a decrease of $4,562 (20.7%) compared to $22,020 in 2023, with constant currency OUS sales down 21.2%[179]. - The decline in revenues was primarily attributed to a 64% drop in PendoTECH OEM sales, which fell from $8.6 million in 2023 to $2.7 million in 2024[145]. - The company expects a revenue decrease of approximately $2 million (about 5%) in 2025 compared to 2024, primarily due to declining sales from PendoTECH and ongoing litigation impacts[187]. Profitability and Financial Metrics - Gross profit for 2024 was $24.1 million, down 19.6% from $30.0 million in 2023, resulting in a gross profit margin of 59.0%[145]. - Operating income fell to $13.6 million in 2024, a decrease of 19.0% from $16.8 million in 2023, maintaining an operating income margin of 33.2%[145]. - Net income for 2024 was $13.9 million, down 16.6% from $16.6 million in 2023, with earnings per share (EPS) of $3.961, a decline of 13.4%[145]. - The gross profit margin contracted by 0.8 percentage points to 59.0% in 2024, attributed to increased fixed manufacturing overhead costs amid declining sales[189]. - Management projects consolidated 2025 Operating Income of about $12 million, which is expected to be 11% lower than in 2024 due to a 5% revenue decline and lower GPM[207]. Product Development and Innovation - The company continues to investigate tools that enhance fetal monitoring techniques, indicating ongoing product development efforts[23]. - UTMD's current product development projects include neonatal intensive care and specialized procedures for cervical/uterine disease[88]. - No new products were launched in 2024, but R&D expenses increased due to independent testing for biopharma sensors, with projections for R&D to remain between 1% and 2% of revenues in 2025[200]. Market and Competitive Landscape - The company faces increasing competition from lower-cost manufacturers in Mexico, Eastern Europe, India, and China, impacting its cost-competitiveness[75]. - UTMD's marketing strategy focuses on clinician engagement through clinical meetings and trade shows, but access to U.S. hospital clinicians has become increasingly restricted[73]. Legal and Regulatory Matters - As of March 25, 2025, five lawsuits related to clip migration have been dismissed by summary judgment, with additional motions pending[56]. - Over the last 31 years, there have been no product liability claims filed for any UTMD device, excluding the Filshie Clip System, after distributing over 20 million critical care and surgical devices[115]. - The company believes that increasing regulatory burdens may lead to significant revenue loss and unpredictable costs[120]. Shareholder Returns and Stock Performance - The company has returned $151 million in share repurchases and $86 million in cash dividends to stockholders since 1992[15]. - UTMD repurchased 301,961 shares of its common stock in 2024 for a total cost of $19.968 million, averaging $66.13 per share[140]. - The company paid total cash dividends of $1.2000 per share in 2024, compared to $1.1800 per share in 2023[145]. Operational Efficiency and Workforce - The average tenure of full-time employees at UTMD is 13 years, with 35% having over 25 years of service[89]. - The company operates in 105,000 square feet of facilities in Midvale, Utah, and additional facilities in Ireland, England, Australia, and Canada[134]. Financial Position and Assets - Year-end 2024 total consolidated assets were $122.5 million, down from $135.5 million at the end of 2023, with current assets decreasing by $9.9 million[152]. - Working capital at year-end 2024 was $92.6 million, a 9% decrease from $101.6 million at year-end 2023, primarily due to share repurchases[154]. - The company's current ratio improved to 25.6 at the end of 2024 from 22.6 at the end of 2023, indicating strong liquidity despite a decline in working capital[151].

Core Viewpoint - Utah Medical Products, Inc. (UTMD) experienced a significant decline in earnings and revenues for the fourth quarter and full year of 2024, leading to a drop in stock price despite stable gross profit margins. Financial Performance - For Q4 2024, UTMD reported earnings per share (EPS) of 86 cents, a 27.4% decrease from $1.18 in Q4 2023 [2] - Total revenues for Q4 were $9.2 million, down 25.8% from $12.3 million in the same quarter last year [3] - Net income for Q4 was $2.9 million, a decline of 32.3% from $4.3 million in the previous year [3] - Full-year revenues were $40.9 million, an 18.6% decline from $50.2 million in 2023 [4] - Full-year net income fell 16.6% to $13.9 million from $16.6 million, with EPS dropping 13.4% to $3.96 from $4.57 [4] Key Business Metrics - The gross margin for Q4 was 58.1%, slightly up from 57.6% in the prior-year period, while the full-year gross margin was 59%, down from 59.8% in 2023 [5] - Operating income for Q4 declined 25.7% year over year to $2.9 million, and full-year operating income fell 19% to $13.6 million [5] - Cash and investments totaled $83 million as of Dec. 31, 2024, down from $92.9 million a year earlier [6] Revenue Decline Factors - The revenue decline was attributed to a $5.9 million drop in PendoTECH sales, lower sales to outside-the-U.S. (OUS) distributors, and a 12% decline in worldwide Filshie Clip System device sales [7] - PendoTECH accounted for 64% of the total revenue drop, with a $2.1 million decrease in OUS distributor sales primarily due to reduced shipments to China [8] Management Commentary and Guidance - Management expects total worldwide revenues to decline again in 2025, though at a lower rate than in 2024, with further declines in PendoTECH sales but a slight rebound anticipated in OUS distributor sales and Filshie device revenues [10] Shareholder Returns - During 2024, the company repurchased over 301,000 shares at an average price of $66.13 per share, totaling nearly $20 million [11] - The quarterly dividend was increased to 30.5 cents per share, effective January 2025 [11]

Financial Performance - Revenues for 2024 decreased by 19% to $40.9 million compared to $50.2 million in 2023[4] - Net Income for 2024 was $9.2 million, a decline of 17% from $11.1 million in 2023[4] - Earnings Per Share (EPS) fell by 13% to $1.73 in 2024 from $1.99 in 2023[2] - In Q4 2024, total revenues were $9.2 million, down 25.8% from $12.3 million in Q4 2023[11] - The decline in annual revenues was primarily due to a $5.9 million (69%) drop in OEM sales to PendoTECH[17] - OUS distributor sales, excluding Filshie devices, decreased by $2.1 million (20%) in 2024[17] - Gross Profit (GP) for 2024 was $5,895 lower (19.6%) than in 2023, with a GP margin of 59.0% compared to 59.8% in 2023[24] - Operating Income (OI) decreased by $3,183 (19.0%) to $13,594 in 2024 compared to $16,777 in 2023[25] - Consolidated 2024 EBT was $16,802, representing 41.1% of sales, down from $20,089 (40.0% of sales) in 2023[33] - Adjusted consolidated EBITDA for 2024 was $19,852, a decrease from $26,635 in 2023, with a percentage of sales at 48.5% compared to 53.0% in 2023[35][36] - UTMD's non-US GAAP adjusted consolidated EBITDA for 2024 was $19,852 million, down 25.7% from $26,635 million in 2023[37] - Net Income for 2024 was $13,874 million, a decrease of 16.6% compared to $16,635 million in 2023, representing 33.9% of sales[38] - Diluted EPS for 2024 was $3.961, down 13.4% from $4.574 in 2023, with diluted shares decreasing from 3,637,071 to 3,503,165[39] Sales and Revenue Trends - The company expects a slight increase in sales from its China distributor for blood pressure monitoring kits in 2025[17] - UTMD projects higher OUS Filshie device sales in 2025 due to expected regulatory approvals[17] - OUS USD-denominated sales in 2024 were $17,458, a decrease of $4,562 (20.7%) compared to $22,020 in 2023[18] - Domestic U.S. sales in 2024 were $23,444, down $4,759 (16.9%) from $28,204 in 2023[21] - Sales invoiced in foreign currencies were $12,911, representing 74% of OUS sales and 32% of total consolidated sales[19] - The combined weighted-average favorable FX impact on 2024 foreign currency OUS sales was 0.3%, increasing reported USD sales by $113 compared to 2023[20] Shareholder Actions and Stock Performance - UTMD repurchased over 8% of its shares during the year, contributing to a stock price decline of 27%[2] - UTMD repurchased a total of 301,961 shares in 2024 at an average cost of $66.13 per share, totaling $19.968 million[44] - The number of outstanding shares at the end of 2024 was 3,335,156, down 8.1% from 3,629,525 at the end of 2023[40] - Dividends paid in 2024 totaled $4,260 million ($1.20 per share), slightly lower than $4,282 million ($1.18 per share) in 2023[43] Liquidity and Assets - Total cash and investments at the end of 2024 were $82.976 million, a decrease of $9.9 million from $92.868 million at the end of 2023[45] - The company's total assets decreased to $122.538 million at the end of 2024 from $135.458 million at the end of 2023[50] - The current ratio as of December 31, 2024, was 25.6, indicating strong liquidity[48] - The average inventory turns in 2024 were 1.8, reflecting inventory management efficiency[48] Future Outlook - Looking forward to 2025, UTMD expects total WW consolidated revenues to be lower again, in the low to mid-single percentage digits relative to 2024[23] - Litigation expenses in 2024 were $2,139 (5.2% of sales), up from $1,660 (3.3% of sales) in 2023[30]

Group 1 - Utah Medical Products, Inc. (NASDAQ: UTMD) is facing negative market sentiment due to ongoing litigation related to its Filshie Clip product and a reduction in operational scale [1] - The company is perceived to be unfairly punished in the market despite its long-term potential [1] Group 2 - The article does not provide additional insights or data related to the broader industry or market trends [2][3]

Financial Performance - Net sales for Q3 2024 were $10,005, a decrease of 20.0% compared to $12,505 in Q3 2023, and for the first nine months of 2024, net sales were $31,745, down 16.2% from $37,891 in the same period of 2023[27]. - Gross profit for Q3 2024 was $5,802, down 21.2% from $7,359 in Q3 2023, and for 9M 2024, gross profit was $18,820, a decrease of 18.0% from $22,940 in 9M 2023[27]. - Operating income for Q3 2024 was $3,343, down 15.8% from $3,969 in Q3 2023, and for 9M 2024, operating income was $10,664, a decrease of 16.9% from $12,833 in 9M 2023[27]. - Earnings per diluted share (EPS) for Q3 2024 were $1.025, down 5.2% from $1.081 in Q3 2023, and for 9M 2024, EPS were $3.098, a decrease of 8.7% from $3.394 in 9M 2023[27]. - Net income in Q3 2024 was $3,563 (35.6% of sales), a decrease of 9.4% from $3,935 (31.5% of sales) in Q3 2023; for 9M 2024, net income was $10,972 (34.6% of sales), down 11.1% from $12,349 (32.6% of sales) in 9M 2023[73]. Sales and Market Trends - Worldwide sales to the major OEM customer, PendoTECH, were $1,704 lower in Q3 2024 compared to Q3 2023, accounting for 73% of the lower year-to-date sales[27]. - Domestic U.S. sales in Q3 2024 were $5,687, a decrease of 21.7% from $7,265 in Q3 2023, with OEM sales down 54.7%[37]. - OUS sales in 9M 2024 decreased by 14.5% to $14,036 million compared to $16,424 million in 9M 2023, with a constant currency decline of 15.2%[44][45]. - In 3Q 2024, WW labor & delivery device sales were down 26%, and blood pressure monitoring and related OEM product sales decreased by 44% compared to 3Q 2023[48]. Profitability and Margins - The gross profit margin for Q3 2024 was 58.0%, slightly down from 58.8% in Q3 2023, while the operating income margin improved to 33.4% from 31.7% in the same period[29]. - Operating expenses as a percentage of sales were 24.6% in 3Q 2024, down from 27.1% in 3Q 2023, indicating improved cost management[54][60]. - Gross profit in 9M 2024 was $4,120 million lower (18.0%) compared to 9M 2023, but margins remained stable due to overhead adjustments[52]. - Consolidated EBT for Q3 2024 was $4,179 (41.8% of sales), down from $4,781 (38.2% of sales) in Q3 2023; for 9M 2024, EBT was $13,188 (41.5% of sales) compared to $15,072 (39.8% of sales) in 9M 2023[67]. Shareholder Returns - The company repurchased shares totaling $13,259 and paid $3,222 in dividends to stockholders during the first nine months of 2024[32]. - Dividends paid in Q3 2024 totaled $1,052 ($0.300/share), compared to $1,071 ($0.295/share) in Q3 2023; for 9M 2024, dividends were $3,222 ($0.300/share) versus $3,211 ($0.295/share) in 9M 2023[81]. - The company repurchased 58,377 shares for $3,866 in Q3 2024, at an average cost of $66.22/share; total shares repurchased in 9M 2024 were 196,592 for $13,259, averaging $67.45/share[79]. - UTMD returned $16,481 to stockholders in 9M 2024 through dividends and share repurchases, a substantial increase from $3,211 in 9M 2023[84]. Cash Flow and Investments - Net cash provided by operating activities in 9M 2024 was $11,894, down 29.9% from $16,949 in 9M 2023, primarily due to a $1,377 decrease in Net Income[82]. - Capital expenditures for property and equipment (PP&E) were $221 in 9M 2024, significantly lower than $549 in 9M 2023, indicating no expansion-related investments[83]. - The company plans to continue investing in new technology and processes, and remain open to acquisition opportunities to enhance revenue and EPS growth[86]. Future Outlook - The company expects a total annual consolidated sales decline of 18% to 19% in 2024 compared to 2023, with WW PendoTECH biopharmaceutical OEM sales projected to be $6 million lower[46]. - Management expects a revenue decline of 18 to 19% for the year 2024, along with a similar decline in Net Income[96]. Balance Sheet and Financial Ratios - Working capital decreased to $98,221 at September 30, 2024, from $101,559 at December 31, 2023, primarily due to a $4,416 decrease in cash[90]. - Total debt ratio improved to 4% as of September 30, 2024, down from 5% at December 31, 2023[92]. - UTMD's total consolidated assets decreased by $5,764 to $129,694 as of September 30, 2024, compared to December 31, 2023[87]. - Annualized ROE in 9M 2024 was 8%, down from 10% in 9M 2023; before dividends, it was 12% compared to 14% in the prior year[80].

Core Insights - Utah Medical Products, Inc. (UTMD) reported a decrease in earnings per share (EPS) to $1.025, down 5.2% from the previous year, with revenues dropping 20% year over year to $10 million [1][2] Revenue Performance - Worldwide consolidated sales decreased by 20%, with U.S. sales down 21.7% and international sales down 17.6% [3] - Domestic OEM sales experienced a significant decline of 54.7%, primarily due to a $1.1 million drop in PendoTECH sales, while direct Filshie Clip System sales fell by 10.7% [3] Profitability Metrics - Gross profit decreased by 21.2% to $5.8 million, with gross profit margin slightly contracting from 58.8% to 58% due to material cost inflation and lower operational efficiencies [4] - Operating income fell by 15.8% to $3.3 million, but the operating income margin improved from 31.7% to 33.4% due to reduced operating expenses [6] - Net income was reported at $3.6 million, a decrease of 9.4%, yet the net income margin improved from 31.5% to 35.6% [7] Operating Expenses - Operating expenses were reduced to $2.5 million, a 27.5% decrease from $3.4 million in the same quarter of the previous year, largely due to the end of amortization related to previous acquisitions [5] Non-Operating Income - Net non-operating income rose to $0.84 million from $0.81 million, supported by higher interest income and currency remeasurement gains, despite the impact of the U.S. excise tax on share repurchases [8] Balance Sheet Overview - As of September 30, 2024, cash and investments totaled $88.5 million, down from $92.9 million at the end of 2023, while total assets decreased to $129.7 million [9] - Current liabilities were reduced to $3.4 million, and stockholders' equity stood at $124.2 million, reflecting a minor decrease [9] Management Guidance - Management anticipates a $6 million annual revenue decline in 2024, primarily from reduced PendoTECH sales, projecting an overall revenue decline of around 18-19% year over year [10] - EBITDA is projected to range from $19 to $20 million for the full calendar year, indicating a focus on maintaining operational profitability [10] Share Repurchase Activity - During the third quarter, UTMD repurchased 58,377 shares at an average cost of $66.22 per share, totaling $3.9 million, reflecting management's confidence in the company's long-term value [11]

Sales Performance - In Q3 2024, total worldwide consolidated sales were $2,500 (20.0%) lower than in Q3 2023, and for the first nine months (9M) of 2024, sales were $6,146 (16.2%) lower compared to 9M 2023[2][9]. - Domestic U.S. sales in Q3 2024 were $5,687, down 21.7% from $7,265 in Q3 2023, while for 9M 2024, domestic sales were $17,709, down 17.5% from $21,467 in 9M 2023[7][10]. - Sales to the major OEM customer, PendoTECH, were $1,704 lower in Q3 2024 and $4,483 lower in 9M 2024, accounting for 73% of the year-to-date sales decline[2]. - In 9M 2024, the company reported a 15.2% decline in OUS sales in constant currency terms compared to 9M 2023, with total consolidated sales expected to decline by 18% to 19% in 2024[12]. - Sales to OUS distributors/OEM customers were 8.5% lower in 9M 2024 compared to 9M 2023, indicating challenges in the distribution segment[12]. Profitability Metrics - Gross Profit (GP) margin in Q3 2024 was 58.0%, down from 58.8% in Q3 2023, while for 9M 2024, it was 59.3%, down from 60.5% in 9M 2023[3][4]. - Gross Profit (GP) in 9M 2024 was $4,120 (18.0%) lower than in 9M 2023, with GP margins remaining relatively stable due to overhead adjustments[13]. - Operating Income (OI) margin for Q3 2024 was 33.4%, compared to 31.7% in Q3 2023, and for 9M 2024, it was 41.8%, up from 39.8% in 9M 2023[3][5]. - Operating Income (OI) in 9M 2024 was $10,664, reflecting a decline of $2,169 (16.9%) compared to 9M 2023, primarily due to increased operating expenses[14]. - Total Operating Expenses (OE) in 9M 2024 were $8,156, representing 25.7% of sales, compared to $10,107 (26.7%) in 9M 2023[15]. Net Income and Earnings Per Share - Net Income (NI) in Q3 2024 decreased by 9% and by 11% in 9M 2024 compared to the respective periods in 2023[2]. - Net Income (NI) in 9M 2024 was $10,972, an 11.1% decrease from $12,349 in 9M 2023, with a net income margin of 34.6%[18]. - Earnings Per Share (EPS) in Q3 2024 were only 5% lower despite a 20% drop in revenues, and for 9M 2024, EPS were 9% lower with a 16% decline in revenues[5]. - Diluted Earnings per Share (EPS) in 9M 2024 were $3.098, down 8.7% from $3.394 in 9M 2023, with diluted shares decreasing to 3,477,797[19]. Expenses and Litigation - The company reported that ongoing litigation expenses related to Filshie product liability claims were 4.26% of revenues in Q3 2024, compared to 2.78% in Q3 2023[5]. - The company maintained S&M expenses in 9M 2024 at $1,395, a $186 increase from 9M 2023, primarily due to salary increases and additional sales personnel[15]. Cash Flow and Shareholder Returns - The company's cash and investments decreased by $4,416 to $88,452 as of September 30, 2024, primarily due to share repurchases and dividends[23]. - Total shares repurchased in 9M 2024 were 196,592 for $13,259, representing about 5.4% of shares outstanding at the end of 2023[22]. - The balance sheet remained strong with a higher current ratio and lower total liabilities despite lower sales and earnings, with $3,222 paid in dividends and $13,259 used for share repurchases in 9M 2024[5]. Market and Currency Impact - Foreign currency sales represented 35% of total worldwide consolidated Q3 2024 sales, with a favorable FX rate impact increasing reported USD sales by $96 compared to Q3 2023[2][8]. EBITDA and Future Expectations - Adjusted consolidated EBITDA for 3Q 2024 was $4,958, down 25% from $6,604 in 3Q 2023[20]. - Adjusted consolidated EBITDA as a percentage of sales was 49.6% in 3Q 2024, down from 52.8% in 3Q 2023[20]. - The company expects adjusted consolidated EBITDA for the entire 2024 calendar year to be in the range of $19 to $20 million[20]. - The company expects WW PendoTECH biopharmaceutical OEM sales to be $6 million lower in 2024 than in 2023, representing less than 7% of total consolidated sales[12]. Stock Performance - The closing share price at the end of 3Q 2024 was $66.91, a 20.6% decrease from $84.22 at the end of 2023[22].