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United-Guardian Inc. (UG+2.22%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, with net sales increasing by approximately 12% to $12,181,971 in 2024 from $10,885,154 in 2023. The increase was primarily due to a rise in sales of cosmetic ingredient products.
United-Guardian reported a gross profit margin of 53% in 2024, up from 50% in 2023. This increase was attributed to higher sales of cosmetic ingredients and lower per unit overhead costs.
Operating expenses for the year rose by approximately 13% to $2,356,819, driven by increased sales and marketing expenses, payroll, and Board of Directors fees.
Net income for 2024 was $3,250,875, compared to $2,581,370 in 2023. The effective income tax rate was 20.9% in 2024, slightly up from 20.6% in 2023.
The company's working capital increased slightly to $10,751,082 as of December 31, 2024, from $10,718,457 the previous year, while the current ratio decreased due to an increase in accounts payable.
United-Guardian's cash from operations was $3,466,251, with net cash used in investing activities amounting to $7,077,395, primarily due to increased investment in marketable securities.
The company declared and paid dividends totaling $2,756,323 in 2024, compared to $459,387 in 2023, reflecting a higher dividend per share.
United-Guardian continues to focus on its core business segments of cosmetic ingredients, pharmaceuticals, and medical lubricants, with plans to expand its sexual wellness ingredients line in 2025.
The filing also highlights the company's efforts to manage supply chain challenges and tariff impacts, with most raw materials sourced domestically and adequate stock levels maintained.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the United-Guardian Inc. annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.