0001171843-21-005807.txt : 20210811 0001171843-21-005807.hdr.sgml : 20210811 20210811090015 ACCESSION NUMBER: 0001171843-21-005807 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20210811 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20210811 DATE AS OF CHANGE: 20210811 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITED GUARDIAN INC CENTRAL INDEX KEY: 0000101295 STANDARD INDUSTRIAL CLASSIFICATION: PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844] IRS NUMBER: 111719724 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10526 FILM NUMBER: 211162140 BUSINESS ADDRESS: STREET 1: 230 MARCUS BLVD CITY: HAUPPAUGE STATE: NY ZIP: 11788 BUSINESS PHONE: 631-273-0900 MAIL ADDRESS: STREET 1: P.O. BOX 18050 STREET 2: 230 MARCUS BLVD. CITY: HAUPPAUGE STATE: NY ZIP: 11788 FORMER COMPANY: FORMER CONFORMED NAME: UNITED INTERNATIONAL RESEARCH INC DATE OF NAME CHANGE: 19820422 8-K 1 f8k_080921.htm FORM 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): August 11, 2021  

United-Guardian, Inc.
(Exact Name of Registrant as Specified in Charter)

Delaware001-1052611-1719724
(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification Number)

 

230 Marcus Boulevard, Hauppauge, New York 11788
(Address of Principal Executive Offices) (Zip Code)

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

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))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company [   ]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [   ]

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.10 par value per share UGNASDAQ Global Market
 
 

Item 2.02. Results of Operations and Financial Condition.

On August 11, 2021, 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 August 11, 2021

SIGNATURE

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

 United-Guardian, Inc.
   
  
Date: August 11, 2021By: /s/ Ken Globus        
  Ken Globus
  President
  

EX-99.1 2 exh_991.htm PRESS RELEASE EdgarFiling

EXHIBIT 99.1

United-Guardian Reports Second Quarter Financial Results

HAUPPAUGE, N.Y., Aug. 11, 2021 (GLOBE NEWSWIRE) -- United-Guardian, Inc. (NASDAQ:UG) reported today that sales in the second quarter of 2021 grew by 24% over the same quarter last year, increasing from $2,954,644 in 2020 to $3,657,978 this year, resulting in net income increasing from $1,186,611 ($0.26 per share) in the second quarter of 2020 to $1,344,524 ($0.29 per share) this year. For the first six months of the year sales increased by 13% from $6,277,558 in 2020 to $7,088,846 this year, with net income increasing from $1,976,918 ($0.43 per share) in 2020 to $2,525,726 ($0.55 per share) in the first six months of this year.

Ken Globus, President of United-Guardian, stated, “With the global economies starting to recover from the coronavirus pandemic in the second quarter of this year, sales of our cosmetic ingredients increased by 68% compared with the same period last year. This increase in sales of our cosmetic ingredients was the primary reason for the substantial increase in sales in the second quarter. In addition, we had strong sales of our pharmaceutical products, despite having discontinued our participation in state Medicaid programs due to the excessive fees involved. With the Delta variant of the coronavirus expected to impact global economies more significantly in the third quarter than it did in the second, it is difficult to project what the impact will be on sales of our cosmetic ingredients for the rest of the year. Regardless of the impact of the pandemic on our other sales, we expect our pharmaceutical sales to remain strong. We are very pleased with our year-to-date financial results, and are hopeful that despite the continuing impact of the pandemic, sales will continue to be resilient for the remainder of the year.”

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

Contact:Ken Globus
 (631) 273-0900
  

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 for the
Three and Six Months Ended
June 30, 2021 and 2020*

STATEMENTS OF INCOME
(unaudited)

     
  THREE MONTHS
ENDED JUNE 30,
 SIX MONTHS ENDED
JUNE 30,
  2021
 2020
 2021
 2020
                 
Net sales $3,657,978  $2,954,644  $7,088,846  $6,277,558 
                 
Costs and expenses:                
Cost of sales  1,499,390   1,270,434   2,860,403   2,659,765 
Operating expenses  513,012   511,635   970,139   1,026,910 
Research and development expense  130,025   108,566   218,311   216,298 
Total costs and expenses  2,142,427   1,890,635   4,048,853   3,902,973 
Income from operations  1,515,551   1,064,009   3.039,993   2,374,585 
                 
Other income:                
Investment income  45,640   48,319   85,400   92,386 
Net gain on marketable securities  137,574   387,179   65,527   30,584 
Total other income   183,214   435,498   150,927   122,970 
Income before provision for income taxes  1,698,765   1,499,507   3,190,920   2,497,555 
                 
Provision for income taxes  354,241   312,896   665,194   520,637 
    NET INCOME $1,344,524  $1,186,611  $2,525,726  $1,976,918 
                 
Earnings per common share (basic and diluted) $0.29  $0.26  $0.55  $0.43 
                 
Weighted average shares (basic and diluted)  4,594,319   4,594,319   4,594,319   4,594,319 
                 

* Additional financial information can be found on the company’s web site at www.u-g.com.