8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 24, 2010

United-Guardian, Inc.
(Exact name of registrant as specified in its charter)

Delaware	001-10526	11-1719724
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

230 Marcus Boulevard, Hauppauge, New York 11788

(Address of principal executive offices)

Registrant's telephone number, including area code: (631) 273-0900

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
	[   ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	[   ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	[   ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	[   ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On March 24, 2010 the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

    Exhibit 99.1.       Press release dated March 24, 2010

SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	United-Guardian, Inc.
Date: March 24, 2010	By:	/s/   KEN GLOBUS Ken Globus President

Exhibit Index
99.1	Press release dated March 24, 2010

EX-99.1

EXHIBIT 99.1

United-Guardian Reports Record Sales and Earnings

HAUPPAUGE, N.Y., March 24, 2010 (GLOBE NEWSWIRE) -- United-Guardian, Inc. (Nasdaq:UG) reported today that sales and earnings for FY-2009 both reached record levels. Sales for the year were up 8% from $12,292,147 in 2008 to $13,276,984 in 2009, and net income increased 23% from $3,162,931 ($0.64 per share) to $3,878,963 ($0.78 per share).

Ken Globus, President of United-Guardian, stated, "We are very happy to report that we had another excellent year in 2009, with both sales and earnings reaching new highs. We were especially pleased to be able to reach these record levels despite the difficult economic climate of this past year. The continuing success of our joint marketing efforts with our global marketing partners, as well as our efforts to keep both our raw material and administrative costs down, were some of the reasons for our very successful year. We have also seen significant increases in the growth of our medical products line over the past year, and expect to continue to see sales increases both in that line as well as our cosmetic ingredient line. Based on first quarter sales to date we are hopeful that this trend will continue as the global economy continues to improve and we continue to expand our line of products."

United-Guardian is a manufacturer of cosmetic ingredients, personal and health care products, pharmaceuticals, and specialty industrial products.

The United-Guardian, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6000

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 Registrant's 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.

United-Guardian, Inc.
RESULTS FOR THE YEARS ENDED DECEMBER 31, 2009 AND DECEMBER 31, 2008
INCOME STATEMENT DATA
	Years ended December 31,
	2009	2008
Net sales	$13,276,984	$12,292,147
Costs and expenses
Cost of sales	5,324,257	5,411,404
Operating expenses	2,608,478	2,698,671
	7,932,735	8,110,075
Income from operations	5,344,249	4,182,072
Other income (expense)
Investment income	395,261	492,443
Gain (loss) on sale of assets	420	(7,763)
	395,681	484,680
Income from operations before income taxes	5,739,930	4,666,752
Provision for income taxes	1,860,967	1,503,821
Net income	$3,878,963	$3,162,931
Earnings per common share (basic and diluted)	$.78	$.64
Weighted average shares (basic and diluted)	4,946,439	4,946,439

BALANCE SHEET DATA
	December 31
	2009	2008
Current assets	$17,656,565	$15,785,392
Certificates of deposit, due 2010	--	271,976
Property, plant, and equipment (net)	946,711	951,979
Other assets	113,016	274,276
Total assets	$18,716,292	$17,283,623
Current liabilities	$2,920,674	$2,548,712
Deferred income taxes	138,007	28,616
Total liabilities	$3,058,681	$2,577,328
Stockholders' equity	$15,657,611	$14,706,295
Total liabilities and stockholders' equity	$18,716,292	$17,283,623

CONTACT:  United-Guardian, Inc.
          Robert S. Rubinger
          (631) 273-0900