Hauppauge, NY, November 1, 2000 -- United-Guardian,
Inc. (AMEX:UG) today released its financial results for
the third quarter of 2000.
Earnings after taxes for the first 9 months of the
year have once again attained a new record for the
company, increasing 38% from $1,145,348 ($.23 per share)
in 1999 to 1,579,687 ($.32 per share) in the current year. Revenue for the period increased 10% from $7,093,503 in 1999
to $7,795,787 in 2000.
For the three months ended September 30, 2000, net
earnings increased 19% from $303,728 in 1999 ($.06 per
share) to $361,313 ($.07 per share) in 2000.
Kenneth H. Globus, President of United-Guardian,
stated: “I am pleased to report that we have once again
attained record earnings for the first nine months of this
year, and that as a result of the excellent progress the
company has made over the past few years in increasing its
revenue, earnings, and financial strength we were recently
chosen by Forbes Magazine to be one of the “200 Best
Small Companies in America”.
We are very pleased that the efforts we have been
making over the past few years have now been recognized by
one of the leading financial magazines in the world.
Because this list can include companies with up to
$350 million in sales, we are certainly in excellent
company, and are very proud of what we have been able to
achieve over the past few years. Since our current
earnings increases are primarily the result of increased
sales of our existing product lines, we are very
optimistic that we will experience even greater growth
over the next few years as some of our ongoing projects
begin to generate revenue”.
United-Guardian is a manufacturer of cosmetic
ingredients, personal and health care products,
pharmaceuticals, and specialty industrial products.
(Table
to follow)
Contact:
Robert S. Rubinger