Hauppauge,
NY, March 13, 2001 --- United-Guardian, Inc., (AMEX:UG)
today reported record net earnings of $2.1 million ($.42
per share) on $10.5 million in revenue for the fiscal year
ended December 31, 2000.
Overall
company sales increased 14% in fiscal 2000 to $10,447,374,
up from $9,136,733 in 1999.
This revenue increase was led by sales growth of
22% year-over-year at the company’s Guardian
Laboratories division, which accounts for approximately
85% of the company’s revenues.
The
company’s net earnings for the year were $2,053,373
($.42 per share) compared to $1,390,181 ($.28 per share)
in 1999, an increase of 48%.
“The
company had another excellent year with a strong increase
in earnings that demonstrates the Company’s ability to
control costs and build revenues in key strategic
markets,” stated Kenneth H. Globus, President of
United-Guardian.
“In
the coming year, we expect to continue to grow our revenue
line as significant projects get underway on a commercial
basis. This
includes a globally marketed product from a major UK-based
consumer products company that will now be incorporating a
custom version of Lubrajel®,
United-Guardian’s proprietary water-based moisturizer
and lubricant,” Mr. Globus said.
In February, United-Guardian reported significant
increases in orders for its Lubrajel product from new
customers in Mainland China, which added significantly to
the company’s revenues for the year.
United-Guardian
is a manufacturer of cosmetic ingredients, personal and
health care products, pharmaceuticals, and specialty
industrial products.
Contact:
Robert S. Rubinger
Public Relations
(631) 273-0900
NOTE:
Any "forward-looking statements” (as that
term is defined in the Private Securities Litigation
Reform Act of 1995) contained in this press release are
being made in reliance upon the “safe harbor”
provisions of that Act. The company’s actual results may
differ materially. For information about the factors that
may affect the company’s business please refer to the
company's SEC filings.
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