Comprehensive Fourth Quarter 2025 Earnings Overview for Utah Medical Products

Utah Medical Products, Inc., a medical device manufacturer based in Midvale, Utah, recently released its financial results for the fourth quarter ending December 31, 2025. The company experienced a slight downturn in several key financial metrics compared with the same period in the prior year, driven in part by lower original equipment manufacturer (OEM) sales and softer demand in certain product categories.

Quarterly Revenue and Earnings Performance

For the fourth quarter of fiscal year 2025, Utah Medical Products reported total revenue of approximately $9.0 million, representing a modest decline of around 1.2% year-over-year when compared with the fourth quarter of 2024.

The company also disclosed basic earnings per share (EPS) of $0.80 for the period, reflecting a 6.3% decrease compared with the EPS of $0.857 in the same quarter last year.

Profitability and Income Metrics

Although revenue dipped slightly, the company was able to maintain a positive gross profit of approximately $5.26 million, effectively preserving a healthy margin around 58% of revenues. Gross profit was down just slightly from the prior year’s figure.

Operating income showed a larger year-over-year decline, falling by about 16.7% to $2.4 million, influenced by higher operating costs during the quarter. Net income was reported near $2.6 million, an approximately 11.6% decrease from the same period in 2024.

Segment and Product Sales Breakdown

Domestic results in the United States saw uneven performance by product category. Filshie device sales, Utah Medical’s proprietary gynecological products, grew by over 20% in the U.S., while sales of non-Filshie devices contracted. A significant portion of the revenue decline stemmed from OEM sales, which dropped sharply compared with the prior year as demand in that segment weakened.

International sales outside the U.S. improved slightly in nominal terms, but on a constant currency basis the growth was minimal, showing continued competitive challenges in certain overseas markets.

Factors Affecting Results

Management highlighted several cost pressures that affected the quarter’s performance, including inflation in raw material prices and increased salary and benefits expenses. G&A costs rose partially due to charges linked to legal and operational issues, which contributed to the operating income decline.

Legal expenses remained present, though many pending product liability cases were dismissed, potentially reducing future cost exposure. The company also noted favorable effects from certain foreign exchange movements, which modestly boosted reported international revenues.

Share Repurchases, Balance Sheet and Cash Position

Utah Medical Products continued its active capital return strategies, completing repurchases of company shares throughout the year. For the fourth quarter, nearly 18,000 shares were repurchased under its broader buyback program, which helped reduce the total number of diluted shares outstanding.

The company also ended the year with a strong liquidity position, holding over $85 million in cash and investments and maintaining a zero debt balance. These factors contribute to a solid financial foundation despite near-term revenue challenges.

Full-Year Financial Summary

Looking at the full fiscal year 2025, total sales for Utah Medical Products were roughly $38.5 million, which represented about a 5.8% decline compared with the prior year. Full-year net income was approximately $11.3 million, reflecting an 18.7% year-over-year drop. EPS for the year was $3.48, lower than the prior-year level.

Alongside the top-line contraction, margins also eased for the full year, with the gross margin slipping compared to 2024, reflecting ongoing cost pressures and changes in sales mix.

Outlook and Guidance

For 2026, management warned that OEM sales in certain segments and demand from large biopharma customers that had paused in late 2025 were expected to remain at reduced levels. The company plans to counter these headwinds through new product introductions, expanding sales of core Filshie products, and pursuing growth in both US and international markets.

However, the outlook remains uncertain, and the company emphasized that reaching revenue recovery targets depends on market conditions and the success of upcoming product initiatives.

Summary of Key Financial Figures

• Total Q4 Revenue: ~$9.0 million (down Y/Y)
• EPS (Q4): $0.80 (down Y/Y)
• Gross Profit: ~$5.26 million
• Net Income (Q4): ~$2.6 million
• Full-Year Revenue: ~$38.5 million
• Full-Year Net Income: ~$11.3 million

Overall, Utah Medical Products’ fourth quarter results paint a picture of a company navigating through modest revenue declines while maintaining profitability and a strong balance sheet. The mix of performance trends highlights both challenges in specific segments and underlying strengths such as cash reserves and share repurchases.

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