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Jun 30, 2022
Utah Medical Q2 2022 Earnings Report
UTMD outperformed expectations in Q2 2022, with sales and profits increasing.
Key Takeaways
UTMD reported a 6.5% increase in sales and a 19.7% increase in net income compared to Q2 2021. The company benefited from strong OUS sales growth, better absorption of fixed IIA amortization expense and a reduction of foreign currency operating expenses due to a stronger USD.
Total consolidated sales increased by 6.5% compared to Q2 2021.
Net income increased by 19.7% compared to Q2 2021.
OUS sales were 22.2% higher than in Q2 2021, despite a negative impact from FX rates.
The company repurchased 30,105 shares of its stock for $2,495 during the quarter.
Revenue by Geographic Location
Historical Earnings Impact
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Avg. Return Before/After Earnings
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