Utah Medical Products (UTMD) 10-K 12 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 11, 2015	Jun. 30, 2014
Document and Entity Information:
Entity Registrant Name	UTAH MEDICAL PRODUCTS INC
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Entity Central Index Key	706698
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		3,751,400
Entity Public Float			$171,715,000
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

UTAH_MEDICAL_PRODUCTS_INC_CONS

UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED BALANCE SHEET (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Statement of Financial Position
Cash	$19,274	$14,395
Investments, available-for-sale	58	56
Accounts & other receivables - net	4,703	4,335
Inventories	4,872	4,704
Prepaid expenses and other current assets	465	468
Deferred income taxes	303	328
Total current assets	29,675	24,286
Property and equipment - net	8,236	8,329
Goodwill	15,145	15,650
Other intangible assets	39,675	42,002
Other intangible assets - accumulated amortization	-11,655	-9,556
Other intangible assets - net	28,020	32,446
TOTAL ASSETS	81,076	80,711
Accounts payable	929	773
Accrued expenses	4,148	2,786
Current portion of notes payable	3,894	4,052
Total current liabilities	8,971	7,611
Notes payable	973	5,065
Deferred tax liability - intangible assets	5,581	6,510
Other long term liabilities	0	0
Deferred income taxes	995	944
Total liabilities	16,520	20,130
Commitments and contingencies
Preferred stock, $.01 par value; 5,000 shares authorized, no shares issued and outstanding
Common stock, $.01 par value; 50,000 shares authorized, issued 3,748 shares in 2014 and 3,743 shares in 2013	37	37
Accumulated other comprehensive income (loss)	-3,234	16
Additional paid-in capital	2,890	3,278
Retained earnings	64,863	57,250
Total stockholders' equity	64,556	60,581
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$81,076	$80,711

UTAH_MEDICAL_PRODUCTS_INC_CONS1

UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, except Per Share data, unless otherwise specified
Statement of Financial Position
Preferred Stock, Par Value	$0.01	$0.01
Preferred Stock, Shares Authorized	5,000	5,000
Preferred Stock, Shares Issued
Preferred Stock, Shares Outstanding
Common Stock, Par Value	$0.01	$0.01
Common Stock, Shares Authorized	50,000	50,000
Common Stock, Shares Issued	3,748	3,743
Common Stock, Shares Outstanding	3,748	3,743

UTAH_MEDICAL_PRODUCTS_INC_CONS2

UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement
Sales, net	$41,278	$40,493	$41,552
Cost of goods sold	16,295	16,220	16,245
Gross profit	24,983	24,273	25,307
Sales and marketing	2,211	2,790	2,712
Research and development	460	491	563
General and administrative	6,110	6,164	6,836
Operating income	16,202	14,828	15,196
Dividend and interest income	7	7	11
Gains and (losses) on investments	0	0	-1
Royalty income	99	90	89
Interest expense	-289	-438	-652
Other, net	-207	-11	-106
Income before provision for income taxes	15,812	14,476	14,537
Provision for income taxes	4,434	3,070	4,368
Net income	11,378	11,406	10,169
Earnings per common shares (basic)	$3.04	$3.06	$2.77
Earnings per common share (diluted)	$3.02	$3.02	$2.74
Foreign currency translation net of taxes of $0 in all periods	-3,252	859	1,862
Unrealized gain (loss) on investments net of taxes of $1, $6, and $123	1	8	193
Total comprehensive income	$8,127	$12,273	$12,224

UTAH_MEDICAL_PRODUCTS_INC_CONS3

UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME (Parenthetical) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement
Foreign currency translation tax adjustment	$0	$0	$0
Unrealized gain (loss) on investments tax adjustment	$1	$6	$123

UTAH_MEDICAL_PRODUCTS_INC_CONS4

UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED STATEMENT OF CASH FLOW (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Cash Flows
Net income	$11,378	$11,406	$10,169
Depreciation	637	611	653
Amortization	2,719	2,584	2,613
(Gain) loss on investments	0	0	177
Provision for (recovery of) losses on accounts receivable	-27	10	5
Loss on disposal of assets	35	6	0
Deferred income taxes	-500	-1,399	-600
Stock-based compensation expense	74	28	70
(Increase) decrease in accounts receivable	-365	213	675
(Increase) decrease in accrued interest and other receivables	-100	-241	-204
(Increase) decrease in inventories	-141	-249	841
(Increase) decrease in prepaid expenses and other current assets	-19	6	-125
Increase (decrease) in accounts payable	188	-216	50
Increase (decrease) in accrued expenses	1,508	-28	-570
Increase (decrease) in deferred revenue	0	-83	-100
Increase (decrease) in other liability	0	-340	-91
Net cash provided by operating activities	15,387	12,308	13,563
Capital expenditures for property and equipment	-1,110	-339	-254
Capital expenditures for intangible assets	-22	-5	-1
Purchases of investments	0	0	0
Proceeds from the sale of investments	0	0	47
Net cash provided by (used in) investing activities	-1,132	-344	-208
Proceeds from issuance of common stock - options	491	787	1,803
Common stock purchased and retired	-1,055	0	-504
Payment of taxes for exchange of stock options		-85	0
Tax benefit attributable to exercise of stock options	103	281	178
Repayments of notes payable	-4,035	-3,908	-9,093
Dividends paid	-3,765	-3,675	-3,555
Net cash provided by (used in) financing activities	-8,261	-6,600	-11,171
Effect of exchange rate changes on cash	-1,115	160	153
NET INCREASE IN CASH AND CASH EQUIVALENTS	4,879	5,524	2,337
CASH AT BEGINNING OF YEAR	14,395	8,871	6,534
CASH AT END OF YEAR	19,274	14,395	8,871
Cash paid during the year for income taxes	3,094	3,971	4,423
Cash paid during the year for interest	$296	$439	$658

UTAH_MEDICAL_PRODUCTS_INC_CONS5

UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $)	Total	Common Stock	Additional Paid-In Capitol	Accumulated Other Comprehensive Income	Retained Earnings
In Thousands
Balance, value at Dec. 31, 2011	$40,756	$36	$721	($2,906)	$42,905
Balance, shares at Dec. 31, 2011		3,640
Common stock issued upon exercise of employee stock options	1,941	1	1,940
Common stock issued upon exercise of employee stock options, shares		82
Common stock received and retired upon exercise of stock options	-138	0	-138
Common stock received and retired upon exercise of stock options, shares		-4
Tax benefit attributable to appreciation of stock options	178		178
Stock option compensation expense	70		70
Common stock purchased and retired	-504	0	-503
Common stock purchased and retired, shares		-15
Foreign currency translation adjustment	1,862			1,862
Unrealized holding gain (loss) from investments, available-for-sale, net of taxes	193			193
Common stock dividends	-3,555				-3,555
Net income	10,169				10,169
Balance, value at Dec. 31, 2012	50,972	37	2,268	-851	49,519
Balance, shares at Dec. 31, 2012		3,703
Common stock issued upon exercise of employee stock options	1,403	1	1,402
Common stock issued upon exercise of employee stock options, shares		55
Common stock received and retired upon exercise of stock options	-701	0	-701
Common stock received and retired upon exercise of stock options, shares		-15
Tax benefit attributable to appreciation of stock options	281		281
Stock option compensation expense	28		28
Common stock purchased and retired	0
Foreign currency translation adjustment	859			859
Unrealized holding gain (loss) from investments, available-for-sale, net of taxes	8			8
Common stock dividends	-3,675				-3,675
Net income	11,406				11,406
Balance, value at Dec. 31, 2013	60,581	37	3,278	16	57,250
Balance, shares at Dec. 31, 2013		3,743
Common stock issued upon exercise of employee stock options	926	0	926
Common stock issued upon exercise of employee stock options, shares		35
Common stock received and retired upon exercise of stock options	-435	0	-435
Common stock received and retired upon exercise of stock options, shares		-8
Tax benefit attributable to appreciation of stock options	103		103
Stock option compensation expense	74		74
Common stock purchased and retired	-1,055	0	-1,055
Common stock purchased and retired, shares		-22
Foreign currency translation adjustment	-3,252			-3,252
Unrealized holding gain (loss) from investments, available-for-sale, net of taxes	1			1
Common stock dividends	-3,765				-3,765
Net income	11,378				11,378
Balance, value at Dec. 31, 2014	$64,556	$37	$2,890	($3,234)	$64,863
Balance, shares at Dec. 31, 2014		3,748

Note_1_Summary_of_Significant_

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Notes
Note 1 - Summary of Significant Accounting Policies	Note 1 – Summary of Significant Accounting Policies
	Organization
	Utah Medical Products, Inc. with headquarters in Midvale, Utah and its wholly owned subsidiaries, Femcare Nikomed Ltd, located in Romsey, Hampshire, England, Femcare Australia Pty Ltd located in Castle Hill, NSW, Australia and Utah Medical Products Ltd., which operates a manufacturing facility in Athlone, Ireland, (in the aggregate, the Company) are in the primary business of developing, manufacturing and globally distributing specialized medical devices for the healthcare industry.  The Company’s broad range of products includes those used in critical care areas and the labor and delivery departments of hospitals, as well as outpatient clinics and physicians’ offices.  Products are sold directly to end user facilities in the U.S., Ireland, UK and Australia, and through third party distributors in other international markets.  Domestically, UTMD has an exclusive distribution relationship with CooperSurgical, Inc for the Filshie Clip System.  UTMD also sells subcontract manufactured components and finished products to over 100 companies in the U.S. for their medical and non-medical products.
	Use of Estimates in the Preparation of Financial Statements
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Although actual results could differ from those estimates, management believes it has considered and disclosed all relevant information in making its estimates that materially affect reported performance and current values.
	Principles of Consolidation
	The consolidated financial statements include those of the Company and its subsidiaries.  All intercompany accounts and transactions have been eliminated in consolidation.
	Cash and Cash Equivalents
	For purposes of the consolidated statement of cash flows, the Company considers cash on deposit and short-term investments with original maturities of three months or less to be cash and cash equivalents.
	Investments
	The Company classifies its investments as “available for sale.”  Securities classified as “available for sale” are carried in the financial statements at fair value.  Realized gains and losses, determined using the specific identification method, are included in operations; unrealized holding gains and losses are reported as a separate component of accumulated other comprehensive income.  Declines in fair value below cost that are other than temporary are included in operations.  As of December 31, 2014 the Company retained a freely tradeable investment in Citigroup (C) (see note 3).
	Concentration of Credit Risk
	The primary concentration of credit risk consists of trade receivables.  In the normal course of business, the Company provides credit terms to its customers.  Accordingly, the Company performs ongoing credit evaluations of its customers and maintains allowances for possible losses which, when realized, have been within the range of management's expectations as reflected by its reserves.
	The Company's customer base consists of hospitals, medical device distributors, physician practices and others directly related to healthcare providers, as well as other manufacturing companies.  Although the Company is affected by the well-being of the global healthcare industry, management does not believe significant trade receivable credit risk exists at December 31, 2014 except under an extreme global financial crisis.
	The Company maintains its cash in bank deposit accounts in addition to Fidelity Investment accounts.  The Company has not experienced any losses in such accounts and believes it is not exposed to a significant credit risk on cash and cash equivalent balances.
	Accounts Receivable
	Accounts receivable are amounts due on product sales and are unsecured.  Accounts receivable are carried at their estimated collectible amounts.  Credit is generally extended on a short-term basis; thus accounts receivable do not bear interest although a late charge may be applied to such receivables that are past the due date.  Accounts receivable are periodically evaluated for collectibility based on past credit history of customers and current market conditions.  Provisions for losses on accounts receivable are determined on the basis of loss experience, known and inherent risk in the account balance and current economic conditions (see note 2).
	Inventories
	Finished products, work-in-process, raw materials and supplies inventories are stated at the lower of cost (computed on a first-in, first-out method) or market (see note 2).
	Property and Equipment
	Property and equipment are stated at cost.  Depreciation and amortization are computed using the straight-line and units-of-production methods over estimated useful lives as follows:
	Building and improvements	15-40 years
	Furniture, equipment and tooling	3-10 years
	Long-Lived Assets
	The Company evaluates its long-lived assets in accordance with Accounting Standards Codification (ASC) 360, “Accounting for the Impairment of Long-Lived Assets.”  Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that their net book value may not be recoverable.  When such factors and circumstances exist, the Company compares the projected undiscounted future cash flows associated with the related asset or group of assets over their estimated useful lives against their respective carrying amounts.  Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets, and is recorded in the period in which the determination was made.
	Intangible Assets
	Costs associated with the acquisition of patents, trademarks, trade names, customer relationships, regulatory approvals & product certifications, license rights and non-compete agreements are capitalized, and are being amortized using the straight-line method over periods ranging from 5 to 20 years. UTMD’s goodwill is tested for impairment annually, in the fourth quarter of each year, using a fair value measurement test, in accordance with ASC 350. UTMD also performs impairment tests contemporaneously, if circumstances change that would more than likely reduce the fair value of goodwill below its net book value.  If UTMD determines that its goodwill is impaired, a second step is completed to measure the amount of the impairment loss. UTMD does not expect its goodwill to become impaired in the foreseeable future.  Estimated future amortization expense on intangible assets currently held, using the 2014 year-end 1.5586 USD/GBP and .8181 USD/AUD currency exchange rates, is about $2,544 in 2015, $2,512 in 2016, $2,496 in 2017,  2018 and  2019 (see note 2).
	Revenue Recognition
	The Company recognizes revenue at the time of shipment as title generally passes to the customer at the time of shipment. Revenue recognized by UTMD is based upon documented arrangements and fixed contracts in which the selling price is fixed prior to the Company’s acceptance of an order. Revenue from product and service sales is generally recognized at the time the product is shipped or service completed and invoiced, and collectibility is reasonably assured.  There are circumstances under which revenue may be recognized when product is not shipped, which meet the criteria of SAB 104: the Company provides engineering services, for example, design and production of manufacturing tooling that may be used in subsequent UTMD manufacturing of custom components for other companies.  This revenue is recognized when UTMD’s service has been completed according to a fixed contractual agreement.  UTMD includes handling fees charged to customers in revenues.
	Income Taxes
	The Company accounts for income taxes under ASC 740, “Accounting for Income Taxes,” whereby deferred taxes are computed under the asset and liability method.
	The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, in Utah, in the United Kingdom, in Australia and in Ireland.  UTMD is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2011.  In 2010, the Internal Revenue Service (IRS) examined the Company’s federal income tax return for 2008 and did not propose any adjustments.
	The Company recognizes interest accrued related to unrecognized tax benefits in interest expenses and any related penalties in income taxes. The Company did not recognize any tax-related interest expense or have any tax penalties in any of the three years 2012 through 2014.
	Legal Costs
	The Company has been involved in lawsuits which are an expected consequence of its operations and in the ordinary course of business.  The Company maintains a reserve for legal costs which are probable and estimated based on previous experience and known risk.  The reserve for legal costs at December 31, 2014 and 2013 was $110 and $148, respectively (see note 2).
	Earnings per Share
	The computation of basic earnings per common share is based on the weighted average number of shares outstanding during each year.
	The computation of earnings per common share assuming dilution is based on the weighted average number of shares outstanding during the year plus the weighted average common stock equivalents which would arise from the exercise of stock options outstanding using the treasury stock method and the average market price per share during the year.
	The shares (in thousands) used in the computation of the Company’s basic and diluted earnings per share are reconciled as follows:
		2014	2013	2012
	Weighted average number of shares outstanding – basic	3,747	3,728	3,677
	Dilutive effect of stock options	27	47	34
	Weighted average number of shares outstanding, assuming dilution	3,774	3,775	3,711
	Presentation of Sales and Similar Taxes
	Sales tax on revenue-producing transactions is recorded as a liability when the sale occurs.  UTMD is not required to withhold sales tax on international sales, and at least 85% of domestic 2014 sales were to customers who are tax exempt or who are in jurisdictions where UTMD is not required to withhold sales tax.
	Stock-Based Compensation
	At December 31, 2014, the Company has stock-based employee compensation plans, which are described more fully in note 9.  The Company accounts for stock compensation under ASC 718, Share-Based Payment.  This statement requires the Company to recognize compensation cost based on the grant date fair value of options granted to employees and directors.  In 2014, the Company recognized $74 in compensation cost compared to $28 in 2013 and $70 in 2012.
	Translation of Foreign Currencies
	Assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars at the applicable exchange rates at year-end.  Net gains or losses resulting from the translation of the Company’s assets and liabilities are reflected as a separate component of stockholders’ equity.  A negative translation impact on stockholders’ equity reflects a current relative U.S. Dollar value higher than at the point in time that assets were actually acquired in a foreign currency.  A positive translation impact would result from a U.S. dollar weaker in value than at the point in time foreign assets were acquired.  Year-end translation gains or losses of non-functional currency bank account balances, e.g. EURO and AUD balances held by the UK subsidiary, are recognized as non-operating income/ expense.
	Income and expense items are translated at the weighted average rate of exchange (based on when transactions actually occurred) during the year.

Note_2_Detail_of_Certain_Balan

Note 2 - Detail of Certain Balance Sheet Accounts	12 Months Ended
	Dec. 31, 2014
Notes
Note 2 - Detail of Certain Balance Sheet Accounts	Note 2 – Detail of Certain Balance Sheet Accounts
			December 31,
			2014		2013
	Accounts and other receivables:
	Accounts receivable	$	3,993	$	3,754
	Income tax receivable		787		620
	Accrued interest and other		36		103
	Less allowance for doubtful accounts		-113		-143
	Total accounts and other receivables	$	4,703	$	4,334
	Inventories:
	Finished products	$	1,847	$	1,495
	Work-in-process		1103		984
	Raw materials		1,922		2,225
	Total inventories	$	4,872	$	4,704
	Other intangible assets:
	Patents	$	2,113	$	2,076
	Non-compete agreements		156		166
	Trademarks & trade names		11,396		12,102
	Customer relationships		11,144		11,850
	Regulatory approvals & product certifications		14,866		15,808
	Total other intangible assets		39,675		42,002
	Accumulated amortization		-11,655		-9,556
	Other intangible assets, net	$	28,020	$	32,446
	Accrued expenses:
	Income taxes payable	$	2,445	$	1,237
	Payroll and payroll taxes		940		1,103
	Reserve for litigation costs		110		148
	Other		653		298
	Total accrued expenses	$	4,148	$	2,786

Note_3_Investments

Note 3 - Investments	12 Months Ended
	Dec. 31, 2014
Notes
Note 3 - Investments	Note 3 – Investments
	The Company’s investments, classified as available-for-sale consist of the following:
			December 31,
			2014		2013
	Investments, at cost	$	42	$	42
	Equity securities:
	-Unrealized holding gains		16		14
	-Unrealized holding (losses)		-		-
	Investments, at fair value	$	58	$	56
	Changes in the unrealized holding gain on investment securities available-for-sale and reported as a separate component of accumulated other comprehensive income are as follows:
			December 31,
			2014		2013
	Balance, beginning of year	$	8	$	-
	Realized (gain)/loss from securities included in beginning balance		-		-
	Gross unrealized holding gains (losses) in equity securities		2		14
	Impairment loss		-		-
	Deferred income taxes on unrealized holding gain		-1		-6
	Balance, end of year	$	9	$	8
	During 2014, 2013 and 2012, UTMD had proceeds from sales of available-for-sale securities of $0, $0 and $47, respectively.

Note_4_Fair_Value_Measurements

Note 4 - Fair Value Measurements and Financial Instruments	12 Months Ended
	Dec. 31, 2014
Notes
Note 4 - Fair Value Measurements and Financial Instruments	Note 4 – Fair Value Measurements and Financial Instruments
	The Company follows a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements).  A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
	The Company uses the following valuation techniques to measure fair value for its assets and liabilities:
	Level 1 - Quoted market prices in active markets for identical assets or liabilities;
	Level 2 - Significant other observable inputs (e.g. quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable such as interest rate and yield curves, and market-corroborated inputs);
	Level 3 - Unobservable inputs for the asset or liability, which are valued based on management’s estimates of assumptions that market participants would use in pricing the asset or liability.
	The following table provides financial assets carried at fair value measured as of December 31 for the past two years:
			Level 1				Levels 2 & 3				Total
			2014		2013		2014		2013		2014		2013
	Equities		58		56		-		-		58		56
	Total	$	58	$	56	$	-	$	-	$	58	$	56
	None of the Company’s financial instruments, which are current assets and liabilities that could be readily traded, are held for trading purposes.  Detail on investments is provided in note 3 above.  The Company estimates that the fair value of all financial instruments at December 31, 2014 does not differ materially from the aggregate carrying value of its financial instruments recorded in the accompanying consolidated balance sheet.

Note_5_Property_and_Equipment

Note 5 - Property and Equipment	12 Months Ended
	Dec. 31, 2014
Notes
Note 5 - Property and Equipment	Note 5 – Property and Equipment
	Property and equipment consists of the following:
			December 31,
			2014			2013
	Land	$	1,342		$	1,399
	Buildings and improvements		10,657			10,662
	Furniture, equipment and tooling		15,483			15,560
	Construction-in-progress		131			33
	Total		27,613			27,654
	Accumulated depreciation		-19,377			-19,325
	Property and equipment, net	$	8,236		$	8,329
	Included in the Company’s consolidated balance sheet are the assets of its manufacturing and administrative facilities in Utah, England, Australia and Ireland.  Property and equipment, by location, are as follows:
				31-Dec-14
				Utah			England		Australia		Ireland		Total
	Land		$	926		$	-	$	-	$	416	$	1,342
	Building and improvements			5,635			-		585		4,437		10,657
	Furniture, equipment and tooling			13,854			554		43		1,032		15,483
	Construction-in-progress			120			7		-		4		131
	Total			20,535			561		628		5,889		27,613
	Accumulated depreciation			-16,482			-212		-16		-2,667		-19,377
	Property and equipment, net		$	4,053		$	349	$	612	$	3,222	$	8,236
				31-Dec-13
				Utah			England		Australia		Ireland		Total
	Land		$	926		$	-	$	-	$	473	$	1,399
	Building and improvements			5,614			-		-		5,048		10,662
	Furniture, equipment and tooling			13,650			739		24		1,147		15,560
	Construction-in-progress			25			4		1		3		33
	Total			20,215			743		25		6,671		27,654
	Accumulated depreciation			-16,179			-300		-5		-2,841		-19,325
	Property and equipment, net		$	4,036		$	443	$	20	$	3,830	$	8,329

Note_6_Longterm_Debt

Note 6 - Long-term Debt	12 Months Ended
	Dec. 31, 2014
Notes
Note 6 - Long-term Debt	Note 6 – Long-term Debt
	In March 2011, the Company obtained a $14,000 loan from JPMorgan Chase Bank, N.A. (Chase), to help finance the purchase of Femcare. The terms and conditions of the loan require UTMD to a) repay the loan in equal monthly payments over 5 years, b) pay interest based on the 30-day LIBOR rate plus a margin starting at 2.80% and ranging from 2.00% to 3.75%, depending on the ratio of its funded debt to EBITDA (Leverage Ratio), c) pledge 65% of all foreign subsidiaries’ stock, d) provide first priority liens on all domestic business assets, e) maintain its Interest Coverage Ratio at 1.15 to 1.00 or better, f) maintain its Tangible Net Worth (TNW) above a minimum threshold 20% below UTMD’s TNW at closing on March 18, and g) maintain its Leverage Ratio at 2.75 to 1.00 or less. UTMD is in compliance with all of the loan financial covenants at December 31, 2014. Based on UTMD’s financial position, the bank’s margin was 2.00% at December 31, 2014. The principal balance on this note at December 31, 2014 was $1,750. The note was fully paid off in February 2015.
	In March 2011, the Company also obtained a $12,934 loan from JP Morgan Chase, London Branch, to help finance UTMD’s purchase of Femcare. Terms and conditions of the loan are the same as those listed above for the $14,000 U.S. loan.  The principal balance on this note at December 31, 2014 was $3,117. The note was fully paid off in February 2015.

Note_7_Commitments_and_Conting

Note 7 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2014
Notes
Note 7 - Commitments and Contingencies	Note 7 – Commitments and Contingencies
	Operating Leases
	The Company has a lease agreement for land adjoining its Utah facility for a term of forty years commencing on September 1, 1991.  On September 1, 2001 and subsequent to each fifth lease year, the basic rental was and will be adjusted for published changes in a price index.  The Company currently leases its UK facility, and some of the automobiles for employees in England and Ireland. Rent expense charged to operations under these operating lease agreements was approximately $225, $219 and $258 for the years ended December 31, 2014, 2013 and 2012, respectively.
	Future minimum lease payments under its lease obligations as of December 31, 2014 were as follows:
	Years ending December 31:		Amount
	2015	$	169
	2016		74
	2017		43
	2018		43
	2019		43
	Thereafter		513
	Total future minimum lease payments	$	885
	Purchase Obligations
	The Company has obligations to purchase raw materials for use in its manufacturing operations.  The Company has the right to make changes in, among other things, purchase quantities, delivery schedules and order acceptance.
	Product Liability
	Except for its Femcare subsidiaries, the Company is self-insured for product liability risk. “Product liability” is an insurance industry term for the cost of legal defense and possible damages awarded as a result of use of a company’s product during a procedure which results in an injury of a patient.  The Company maintains a reserve for product liability litigation and damages consistent with its previous long-term experience.  Actual product liability litigation costs and damages during the last three reporting years have been immaterial, which is consistent with the Company’s overall history. Femcare product liability indemnity limit is £5 million each claim and in the annual aggregate.
	The Company absorbs the costs of clinical training and trouble-shooting in its on-going operating expenses.
	Warranty Reserve
	The Company’s published warranty is: “UTMD warrants its products to conform in all material respects to all published product specifications in effect on the date of shipment, and to be free from defects in material and workmanship for a period of thirty (30) days for supplies, or twenty-four (24) months for equipment, from date of shipment.  During the warranty period UTMD shall, at its option, replace any products shown to UTMD's reasonable satisfaction to be defective at no expense to the Purchaser or refund the purchase price.”
	UTMD maintains a warranty reserve to provide for estimated costs which are likely to occur. The amount of this reserve is adjusted, as required, to reflect its actual experience. Based on its analysis of historical warranty claims and its estimate that existing warranty obligations are immaterial, no warranty reserve was made at December 31, 2014 or December 31, 2013.
	Litigation
	The Company has been involved in lawsuits which are an expected consequence of its operations and in the ordinary course of business.  Presently, there is no litigation. The Company applies its accounting policy to accrue legal costs that can be reasonably estimated.
	Irish Development Agency
	In order to satisfy requirements of the Irish Development Agency in assisting the start-up of its Ireland subsidiary, the Company agreed to invest certain amounts and maintain a certain capital structure in its Ireland subsidiary.  The effect of these financial relationships and commitments are reflected in the consolidated financial statements and do not represent any significant credit risk that would affect future liquidity.

Note_8_Income_Taxes

Note 8 - Income Taxes	12 Months Ended
	Dec. 31, 2014
Notes
Note 8 - Income Taxes	Note 8 – Income Taxes
	Deferred tax assets (liabilities) consist of the following temporary differences:
				December 31,
				2014						2013
				Current			Long-term			Current		Long-term
	Inventory write-downs and differences		$	78		$	-		$	82	$	-
	due to UNICAP
	Allowance for doubtful accounts			26			-			27		-
	Accrued liabilities and reserves			65			-			57		-
	Other - foreign			27			-64			55		-85
	Depreciation and amortization			-			-6,511			-		-7,369
	Unrealized investment loss			107			-			107		-
	Deferred income taxes, net		$	303		$	-6,575		$	328	$	-7,454
	The components of income tax expense are as follows:
			Years ended December 31,
			2014			2013			2012
	Current	$	5,288		$	4,266		$	4,960
	Deferred		-854			-1,196			-592
	Total	$	4,434		$	3,070		$	4,368
	Income tax expense differed from amounts computed by applying the statutory federal rate to pretax income as follows:
			Years ended December 31,
			2014			2013			2012
	Federal income tax expense at the statutory rate	$	2,632		$	2,580		$	2,741
	State income taxes		255			250			266
	Foreign income taxes (blended rate)		1,770			542			1,603
	ETI, manufacturing deduction and tax credits		-244			-244			-266
	Other		21			-58			24
	Total	$	4,434		$	3,070		$	4,368
	The domestic and foreign components of income before income tax expense were as follows:
			Years ended December 31,
			2014			2013			2012
	Domestic	$	7,717		$	7,587		$	7,989
	Foreign		8,095			6,889			6,548
	Total	$	15,812		$	14,476		$	14,537

Note_9_Options

Note 9 - Options	12 Months Ended
	Dec. 31, 2014
Notes
Note 9 - Options	Note 9 – Options
	The Company has stock option plans which authorize the grant of stock options to eligible employees, directors and other individuals to purchase up to an aggregate of 204 thousand shares of common stock, of which 91 thousand are outstanding as of December 31, 2014.  All options granted under the plans are granted at current market value at the date of grant, and may be exercised between six months and ten years following the date of grant.  The plans are intended to advance the interest of the Company by attracting and ensuring retention of competent directors, employees and executive personnel, and to provide incentives to those individuals to devote their utmost efforts to the advancement of shareholder value.  Changes in stock options were as follows:
			Shares (000’s)		Price Range Per Share
	2014
	Granted		39		$	49.18 - 50.72
	Expired or canceled		4			25.59 - 49.18
	Exercised		35			18.00 - 33.30
	Total outstanding at December 31		91			21.68 - 50.72
	Total exercisable at December 31		48			21.68 - 33.30
	2013
	Granted		-		$	- - -
	Expired or canceled		3			17.71 - 33.30
	Exercised		55			17.71 - 33.30
	Total outstanding at December 31		91			18.00 - 33.30
	Total exercisable at December 31		77			18.00 - 33.30
	2012
	Granted		13		$	33.30 - 33.30
	Expired or canceled		19			24.00 - 28.13
	Exercised		82			15.01 - 31.33
	Total outstanding at December 31		150			17.71 - 33.30
	Total exercisable at December 31		120			17.71 - 31.33
	For the years ended December 31, 2014, 2013 and 2012, the Company reduced current income taxes payable and increased additional paid-in capital by $103, $281 and $178, respectively, for the income tax benefit attributable to sale by optionees of common stock received upon the exercise of stock options.
	Stock-Based Compensation
	In 2014, the Company recognized $74 in equity compensation cost, compared to $28 in 2013 and $70 in 2012.
	The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:
			Years ended December 31,
			2014			2013		2012
	Expected dividend amount per quarter	$	0.2624		$	n/a	$	0.2571
	Expected stock price volatility		27.00%					22.80%
	Risk-free interest rate		1.50%					0.54%
	Expected life of options		4.7 years					3.8 years
	The per share weighted average fair value of options granted during 2014 and 2012,  is $9.64 and $3.92 respectively. No options were granted in 2013.
	All UTMD options vest over a four-year service period.  Expected dividend amounts were estimated based on the actual cash dividend rate at the time the options were granted and an estimate of future dividends based on past dividend rate changes as well as management’s expectations of future dividend rates over the expected holding period of the options.  Expected volatility is based on UTMD’s historical volatility over recent periods of time and trends in that volatility, giving weight to more recent periods.  Risk free interest rates were estimated based on actual U.S. Treasury Securities Interest rates as reported by the Federal Reserve Bank for periods of time equivalent to the holding periods estimated for the options on the dates the options were granted.  Expected term of options were estimated based on historical holding periods for similar options previously granted by UTMD to employees and directors.
	The following table summarizes information about stock options outstanding at December 31, 2014:
									Options Outstanding				Options Exercisable
			Range of Exercise Prices						Number Outstanding	Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price	Number Exercisable		Weighted Average Exercise Price
	1	$	21.68	-		24			15,399	3.58	$	23.68	15,399	$	23.68
	2		26.52	-		33.3			38,139	4.65		29.82	32,188		29.48
	3		49.18	-		50.72			37,000	9.35		49.22	0		0
	4	$	21.68	--		50.72			90,538	6.39	$	36.7	47,587	$	27.6

Note_10_Geographic_Information

Note 10 - Geographic Information	12 Months Ended
	Dec. 31, 2014
Notes
Note 10 - Geographic Information	Note 10 – Geographic Information
	The Company had sales in the following geographic areas based on the customer’s country of domicile:
			2014		2013		2012
	United States	$	19,483	$	18,965	$	19,961
	Europe		8,939		9,077		9,286
	Other		12,856		12,451		12,305

Note_11_Geographic_LongLived_A

Note 11 - Geographic Long-Lived Assets Information	12 Months Ended
	Dec. 31, 2014
Notes
Note 11 - Geographic Long-Lived Assets Information	Note 11 – Long-lived Assets by Geographic Area
	The Company’s long-lived assets by geographic area were as follows:
			2014		2013		2012
	United States	$	11,349	$	11,355	$	11,590
	England		36,199		41,216		43,106
	Ireland		3,222		3,829		3,704
	Australia		631		24		0

Note_12_Revenues_by_Product_Ca

Note 12 - Revenues by Product Category	12 Months Ended
	Dec. 31, 2014
Notes
Note 12 - Revenues by Product Category	Note 12 – Revenues by Product Category
	The Company had revenues in the following product categories:
	Product Category		2014		2013		2012
	Obstetrics	$	4,669	$	5,085	$	5,194
	Gynecology/Electrosurgery/Urology		24,088		22,687		23,142
	Neonatal		6,222		5,920		6,539
	Blood Pressure Monitoring and Accessories		6,299		6,801		6,677

Note_13_Product_Sale_and_Purch

Note 13 - Product Sale and Purchase Commitments	12 Months Ended
	Dec. 31, 2014
Notes
Note 13 - Product Sale and Purchase Commitments	Note 13 - Product Sale and Purchase Commitments
	The Company has had license agreements for the rights to develop and market certain products or technologies owned by unrelated parties.  The confidential terms of such agreements are unique and varied, depending on many factors relating to the value and stage of development of the technology licensed.  Royalties on future product sales are a normal component of such agreements and are included in the Company’s cost of goods sold on an ongoing basis.
	In 2014, 2013 and 2012, UTMD received royalties of $99, $90 and $89, respectively, for the use of intellectual property of Filshie Clip System as part of Femcare’s exclusive U.S. distribution agreement with Cooper Surgical, Inc.

Note_14_Employee_Benefit_Plans

Note 14 - Employee Benefit Plans	12 Months Ended
	Dec. 31, 2014
Notes
Note 14 - Employee Benefit Plans	Note 14 – Employee Benefit Plans
	The Company sponsors a contributory 401(k) savings plan for U.S. employees, and contributory retirement plans for Ireland, UK and Australia employees.  The Company’s matching contribution is determined annually by the board of directors.  Company contributions were approximately $165, $138 and $161 for the years ended December 31, 2014, 2013 and 2012, respectively.

Note_15_Recent_Accounting_Pron

Note 15 - Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2014
Notes
Note 15 - Recent Accounting Pronouncements	Note 15 – Recent Accounting Pronouncements
	In May 2014, new accounting guidance was issued that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry specific guidance. The guidance is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.  The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract.  Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard.  This guidance becomes effective for annual reporting periods beginning after December 15, 2016 and early adoption is not permitted.  UTMD is currently assessing the impact that this standard will have on its consolidated financial statements when it is adopted in 2017.

Note_16_Subsequent_Events

Note 16 - Subsequent Events	12 Months Ended
	Dec. 31, 2014
Notes
Note 16 - Subsequent Events	Note 16 – Subsequent Events
	The Company evaluated its December 31, 2014 financial statements for subsequent events through the date the financial statements were issued.  In February 2015, UTMD fully paid off its JPMorgan bank loan balances. The Company is not aware of any other subsequent events which would require recognition or disclosure in the financial statements.

Note_1_Summary_of_Significant_1

Note 1 - Summary of Significant Accounting Policies: Use of Estimates in The Preparation of Financial Statements (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Use of Estimates in The Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Although actual results could differ from those estimates, management believes it has considered and disclosed all relevant information in making its estimates that materially affect reported performance and current values.

Note_1_Summary_of_Significant_2

Note 1 - Summary of Significant Accounting Policies: Principles of Consolidation (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Principles of Consolidation	Principles of Consolidation
	The consolidated financial statements include those of the Company and its subsidiaries.  All intercompany accounts and transactions have been eliminated in consolidation.

Note_1_Summary_of_Significant_3

Note 1 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Cash and Cash Equivalents	Cash and Cash Equivalents
	For purposes of the consolidated statement of cash flows, the Company considers cash on deposit and short-term investments with original maturities of three months or less to be cash and cash equivalents.

Note_1_Summary_of_Significant_4

Note 1 - Summary of Significant Accounting Policies: Investments (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Investments	Investments
	The Company classifies its investments as “available for sale.”  Securities classified as “available for sale” are carried in the financial statements at fair value.  Realized gains and losses, determined using the specific identification method, are included in operations; unrealized holding gains and losses are reported as a separate component of accumulated other comprehensive income.  Declines in fair value below cost that are other than temporary are included in operations.  As of December 31, 2014 the Company retained a freely tradeable investment in Citigroup (C) (see note 3).

Note_1_Summary_of_Significant_5

Note 1 - Summary of Significant Accounting Policies: Concentration of Credit Risk (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Concentration of Credit Risk	Concentration of Credit Risk
	The primary concentration of credit risk consists of trade receivables.  In the normal course of business, the Company provides credit terms to its customers.  Accordingly, the Company performs ongoing credit evaluations of its customers and maintains allowances for possible losses which, when realized, have been within the range of management's expectations as reflected by its reserves.
	The Company's customer base consists of hospitals, medical device distributors, physician practices and others directly related to healthcare providers, as well as other manufacturing companies.  Although the Company is affected by the well-being of the global healthcare industry, management does not believe significant trade receivable credit risk exists at December 31, 2014 except under an extreme global financial crisis.
	The Company maintains its cash in bank deposit accounts in addition to Fidelity Investment accounts.  The Company has not experienced any losses in such accounts and believes it is not exposed to a significant credit risk on cash and cash equivalent balances.

Note_1_Summary_of_Significant_6

Note 1 - Summary of Significant Accounting Policies: Accounts Receivable (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Accounts Receivable	Accounts Receivable
	Accounts receivable are amounts due on product sales and are unsecured.  Accounts receivable are carried at their estimated collectible amounts.  Credit is generally extended on a short-term basis; thus accounts receivable do not bear interest although a late charge may be applied to such receivables that are past the due date.  Accounts receivable are periodically evaluated for collectibility based on past credit history of customers and current market conditions.  Provisions for losses on accounts receivable are determined on the basis of loss experience, known and inherent risk in the account balance and current economic conditions (see note 2).

Note_1_Summary_of_Significant_7

Note 1 - Summary of Significant Accounting Policies: Inventories (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Inventories	Inventories
	Finished products, work-in-process, raw materials and supplies inventories are stated at the lower of cost (computed on a first-in, first-out method) or market (see note 2).

Note_1_Summary_of_Significant_8

Note 1 - Summary of Significant Accounting Policies: Property and Equipment (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Property and Equipment	Property and Equipment
	Property and equipment are stated at cost.  Depreciation and amortization are computed using the straight-line and units-of-production methods over estimated useful lives as follows:
	Building and improvements	15-40 years
	Furniture, equipment and tooling	3-10 years

Note_1_Summary_of_Significant_9

Note 1 - Summary of Significant Accounting Policies: Long-lived Assets (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Long-lived Assets	Long-Lived Assets
	The Company evaluates its long-lived assets in accordance with Accounting Standards Codification (ASC) 360, “Accounting for the Impairment of Long-Lived Assets.”  Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that their net book value may not be recoverable.  When such factors and circumstances exist, the Company compares the projected undiscounted future cash flows associated with the related asset or group of assets over their estimated useful lives against their respective carrying amounts.  Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets, and is recorded in the period in which the determination was made.

Recovered_Sheet1

Note 1 - Summary of Significant Accounting Policies: Intangible Assets (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Intangible Assets	Intangible Assets
	Costs associated with the acquisition of patents, trademarks, trade names, customer relationships, regulatory approvals & product certifications, license rights and non-compete agreements are capitalized, and are being amortized using the straight-line method over periods ranging from 5 to 20 years. UTMD’s goodwill is tested for impairment annually, in the fourth quarter of each year, using a fair value measurement test, in accordance with ASC 350. UTMD also performs impairment tests contemporaneously, if circumstances change that would more than likely reduce the fair value of goodwill below its net book value.  If UTMD determines that its goodwill is impaired, a second step is completed to measure the amount of the impairment loss. UTMD does not expect its goodwill to become impaired in the foreseeable future.  Estimated future amortization expense on intangible assets currently held, using the 2014 year-end 1.5586 USD/GBP and .8181 USD/AUD currency exchange rates, is about $2,544 in 2015, $2,512 in 2016, $2,496 in 2017,  2018 and  2019 (see note 2).

Recovered_Sheet2

Note 1 - Summary of Significant Accounting Policies: Revenue Recognition (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Revenue Recognition	Revenue Recognition
	The Company recognizes revenue at the time of shipment as title generally passes to the customer at the time of shipment. Revenue recognized by UTMD is based upon documented arrangements and fixed contracts in which the selling price is fixed prior to the Company’s acceptance of an order. Revenue from product and service sales is generally recognized at the time the product is shipped or service completed and invoiced, and collectibility is reasonably assured.  There are circumstances under which revenue may be recognized when product is not shipped, which meet the criteria of SAB 104: the Company provides engineering services, for example, design and production of manufacturing tooling that may be used in subsequent UTMD manufacturing of custom components for other companies.  This revenue is recognized when UTMD’s service has been completed according to a fixed contractual agreement.  UTMD includes handling fees charged to customers in revenues.

Recovered_Sheet3

Note 1 - Summary of Significant Accounting Policies: Income Taxes (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Income Taxes	Income Taxes
	The Company accounts for income taxes under ASC 740, “Accounting for Income Taxes,” whereby deferred taxes are computed under the asset and liability method.
	The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, in Utah, in the United Kingdom, in Australia and in Ireland.  UTMD is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2011.  In 2010, the Internal Revenue Service (IRS) examined the Company’s federal income tax return for 2008 and did not propose any adjustments.
	The Company recognizes interest accrued related to unrecognized tax benefits in interest expenses and any related penalties in income taxes. The Company did not recognize any tax-related interest expense or have any tax penalties in any of the three years 2012 through 2014.

Recovered_Sheet4

Note 1 - Summary of Significant Accounting Policies: Legal Costs (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Legal Costs	Legal Costs
	The Company has been involved in lawsuits which are an expected consequence of its operations and in the ordinary course of business.  The Company maintains a reserve for legal costs which are probable and estimated based on previous experience and known risk.  The reserve for legal costs at December 31, 2014 and 2013 was $110 and $148, respectively (see note 2).

Recovered_Sheet5

Note 1 - Summary of Significant Accounting Policies: Earnings Per Share (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Earnings Per Share	Earnings per Share
	The computation of basic earnings per common share is based on the weighted average number of shares outstanding during each year.
	The computation of earnings per common share assuming dilution is based on the weighted average number of shares outstanding during the year plus the weighted average common stock equivalents which would arise from the exercise of stock options outstanding using the treasury stock method and the average market price per share during the year.
	The shares (in thousands) used in the computation of the Company’s basic and diluted earnings per share are reconciled as follows:
		2014	2013	2012
	Weighted average number of shares outstanding – basic	3,747	3,728	3,677
	Dilutive effect of stock options	27	47	34
	Weighted average number of shares outstanding, assuming dilution	3,774	3,775	3,711

Recovered_Sheet6

Note 1 - Summary of Significant Accounting Policies: Presentation of Sales and Similar Taxes (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Presentation of Sales and Similar Taxes	Presentation of Sales and Similar Taxes
	Sales tax on revenue-producing transactions is recorded as a liability when the sale occurs.  UTMD is not required to withhold sales tax on international sales, and at least 85% of domestic 2014 sales were to customers who are tax exempt or who are in jurisdictions where UTMD is not required to withhold sales tax.

Recovered_Sheet7

Note 1 - Summary of Significant Accounting Policies: Stock-based Compensation (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Stock-based Compensation	Stock-Based Compensation
	At December 31, 2014, the Company has stock-based employee compensation plans, which are described more fully in note 9.  The Company accounts for stock compensation under ASC 718, Share-Based Payment.  This statement requires the Company to recognize compensation cost based on the grant date fair value of options granted to employees and directors.  In 2014, the Company recognized $74 in compensation cost compared to $28 in 2013 and $70 in 2012.

Recovered_Sheet8

Note 1 - Summary of Significant Accounting Policies: Translation of Foreign Currencies (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Translation of Foreign Currencies	Translation of Foreign Currencies
	Assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars at the applicable exchange rates at year-end.  Net gains or losses resulting from the translation of the Company’s assets and liabilities are reflected as a separate component of stockholders’ equity.  A negative translation impact on stockholders’ equity reflects a current relative U.S. Dollar value higher than at the point in time that assets were actually acquired in a foreign currency.  A positive translation impact would result from a U.S. dollar weaker in value than at the point in time foreign assets were acquired.  Year-end translation gains or losses of non-functional currency bank account balances, e.g. EURO and AUD balances held by the UK subsidiary, are recognized as non-operating income/ expense.
	Income and expense items are translated at the weighted average rate of exchange (based on when transactions actually occurred) during the year.

Recovered_Sheet9

Note 1 - Summary of Significant Accounting Policies: Earnings Per Share: Schedule of Weighted Average Number of Shares (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Weighted Average Number of Shares
		2014	2013	2012
	Weighted average number of shares outstanding – basic	3,747	3,728	3,677
	Dilutive effect of stock options	27	47	34
	Weighted average number of shares outstanding, assuming dilution	3,774	3,775	3,711

Note_2_Detail_of_Certain_Balan1

Note 2 - Detail of Certain Balance Sheet Accounts: Schedule of Accounts and Other Receivables (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Accounts and Other Receivables
			December 31,
			2014		2013
	Accounts and other receivables:
	Accounts receivable	$	3,993	$	3,754
	Income tax receivable		787		620
	Accrued interest and other		36		103
	Less allowance for doubtful accounts		-113		-143
	Total accounts and other receivables	$	4,703	$	4,334

Note_2_Detail_of_Certain_Balan2

Note 2 - Detail of Certain Balance Sheet Accounts: Schedule of Inventory, Current (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Inventory, Current
	Inventories:
	Finished products	$	1,847	$	1,495
	Work-in-process		1103		984
	Raw materials		1,922		2,225
	Total inventories	$	4,872	$	4,704

Note_2_Detail_of_Certain_Balan3

Note 2 - Detail of Certain Balance Sheet Accounts: Schedule of Finite-Lived Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Finite-Lived Intangible Assets
	Other intangible assets:
	Patents	$	2,113	$	2,076
	Non-compete agreements		156		166
	Trademarks & trade names		11,396		12,102
	Customer relationships		11,144		11,850
	Regulatory approvals & product certifications		14,866		15,808
	Total other intangible assets		39,675		42,002
	Accumulated amortization		-11,655		-9,556
	Other intangible assets, net	$	28,020	$	32,446

Note_2_Detail_of_Certain_Balan4

Note 2 - Detail of Certain Balance Sheet Accounts: Schedule of Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Accrued Expenses
	Accrued expenses:
	Income taxes payable	$	2,445	$	1,237
	Payroll and payroll taxes		940		1,103
	Reserve for litigation costs		110		148
	Other		653		298
	Total accrued expenses	$	4,148	$	2,786

Note_3_Investments_Schedule_of

Note 3 - Investments: Schedule of Available-for-sale Securities Reconciliation (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Available-for-sale Securities Reconciliation
			December 31,
			2014		2013
	Investments, at cost	$	42	$	42
	Equity securities:
	-Unrealized holding gains		16		14
	-Unrealized holding (losses)		-		-
	Investments, at fair value	$	58	$	56

Note_3_Investments_Availablefo

Note 3 - Investments: Available-for-sale Securities (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Available-for-sale Securities
			December 31,
			2014		2013
	Balance, beginning of year	$	8	$	-
	Realized (gain)/loss from securities included in beginning balance		-		-
	Gross unrealized holding gains (losses) in equity securities		2		14
	Impairment loss		-		-
	Deferred income taxes on unrealized holding gain		-1		-6
	Balance, end of year	$	9	$	8

Note_4_Fair_Value_Measurements1

Note 4 - Fair Value Measurements and Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
			Level 1				Levels 2 & 3				Total
			2014		2013		2014		2013		2014		2013
	Equities		58		56		-		-		58		56
	Total	$	58	$	56	$	-	$	-	$	58	$	56

Note_5_Property_and_Equipment_

Note 5 - Property and Equipment: Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Property, Plant and Equipment
			December 31,
			2014		2013
	Land	$	1,342	$	1,399
	Buildings and improvements		10,657		10,662
	Furniture, equipment and tooling		15,483		15,560
	Construction-in-progress		131		33
	Total		27,613		27,654
	Accumulated depreciation		-19,377		-19,325
	Property and equipment, net	$	8,236	$	8,329

Note_5_Property_and_Equipment_1

Note 5 - Property and Equipment: Property Plant and Equipment by Location (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Property Plant and Equipment by Location
			31-Dec-14
			Utah		England		Australia		Ireland		Total
	Land	$	926	$	-	$	-	$	416	$	1,342
	Building and improvements		5,635		-		585		4,437		10,657
	Furniture, equipment and tooling		13,854		554		43		1,032		15,483
	Construction-in-progress		120		7		-		4		131
	Total		20,535		561		628		5,889		27,613
	Accumulated depreciation		-16,482		-212		-16		-2,667		-19,377
	Property and equipment, net	$	4,053	$	349	$	612	$	3,222	$	8,236
			31-Dec-13
			Utah		England		Australia		Ireland		Total
	Land	$	926	$	-	$	-	$	473	$	1,399
	Building and improvements		5,614		-		-		5,048		10,662
	Furniture, equipment and tooling		13,650		739		24		1,147		15,560
	Construction-in-progress		25		4		1		3		33
	Total		20,215		743		25		6,671		27,654
	Accumulated depreciation		-16,179		-300		-5		-2,841		-19,325
	Property and equipment, net	$	4,036	$	443	$	20	$	3,830	$	8,329

Note_7_Commitments_and_Conting1

Note 7 - Commitments and Contingencies: Schedule of Future Minimum Rental Payments for Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Future Minimum Rental Payments for Operating Leases
	Years ending December 31:		Amount
	2015	$	169
	2016		74
	2017		43
	2018		43
	2019		43
	Thereafter		513
	Total future minimum lease payments	$	885

Note_8_Income_Taxes_Schedule_o

Note 8 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities
			December 31,
			2014				2013
			Current		Long-term		Current		Long-term
	Inventory write-downs and differences	$	78	$	-	$	82	$	-
	due to UNICAP
	Allowance for doubtful accounts		26		-		27		-
	Accrued liabilities and reserves		65		-		57		-
	Other - foreign		27		-64		55		-85
	Depreciation and amortization		-		-6,511		-		-7,369
	Unrealized investment loss		107		-		107		-
	Deferred income taxes, net	$	303	$	-6,575	$	328	$	-7,454

Note_8_Income_Taxes_Schedule_o1

Note 8 - Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Components of Income Tax Expense (Benefit)
			Years ended December 31,
			2014		2013		2012
	Current	$	5,288	$	4,266	$	4,960
	Deferred		-854		-1,196		-592
	Total	$	4,434	$	3,070	$	4,368

Note_8_Income_Taxes_Schedule_o2

Note 8 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Effective Income Tax Rate Reconciliation
			Years ended December 31,
			2014		2013		2012
	Federal income tax expense at the statutory rate	$	2,632	$	2,580	$	2,741
	State income taxes		255		250		266
	Foreign income taxes (blended rate)		1,770		542		1,603
	ETI, manufacturing deduction and tax credits		-244		-244		-266
	Other		21		-58		24
	Total	$	4,434	$	3,070	$	4,368

Note_8_Income_Taxes_Schedule_o3

Note 8 - Income Taxes: Schedule of Income before Income Tax, Domestic and Foreign (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Income before Income Tax, Domestic and Foreign
			Years ended December 31,
			2014		2013		2012
	Domestic	$	7,717	$	7,587	$	7,989
	Foreign		8,095		6,889		6,548
	Total	$	15,812	$	14,476	$	14,537

Note_9_Options_Schedule_of_Sha

Note 9 - Options: Schedule of Share-based Compensation, Stock Options, Activity (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Share-based Compensation, Stock Options, Activity
		Shares (000’s)	Price Range Per Share
	2014
	Granted	39	$	49.18 - 50.72
	Expired or canceled	4		25.59 - 49.18
	Exercised	35		18.00 - 33.30
	Total outstanding at December 31	91		21.68 - 50.72
	Total exercisable at December 31	48		21.68 - 33.30
	2013
	Granted	-	$	- - -
	Expired or canceled	3		17.71 - 33.30
	Exercised	55		17.71 - 33.30
	Total outstanding at December 31	91		18.00 - 33.30
	Total exercisable at December 31	77		18.00 - 33.30
	2012
	Granted	13	$	33.30 - 33.30
	Expired or canceled	19		24.00 - 28.13
	Exercised	82		15.01 - 31.33
	Total outstanding at December 31	150		17.71 - 33.30
	Total exercisable at December 31	120		17.71 - 31.33

Note_9_Options_Schedule_of_Sha1

Note 9 - Options: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
			Years ended December 31,
			2014		2013		2012
	Expected dividend amount per quarter	$	0.2624	$	n/a	$	0.2571
	Expected stock price volatility		27.00%				22.80%
	Risk-free interest rate		1.50%				0.54%
	Expected life of options		4.7 years				3.8 years

Note_9_Options_Schedule_of_Sha2

Note 9 - Options: Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range
						Options Outstanding				Options Exercisable
			Range of Exercise Prices			Number Outstanding	Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price	Number Exercisable		Weighted Average Exercise Price
	1	$	21.68	-	24	15,399	3.58	$	23.68	15,399	$	23.68
	2		26.52	-	33.3	38,139	4.65		29.82	32,188		29.48
	3		49.18	-	50.72	37,000	9.35		49.22	0		0
	4	$	21.68	--	50.72	90,538	6.39	$	36.7	47,587	$	27.6

Note_10_Geographic_Information1

Note 10 - Geographic Information: Schedule Of Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule Of Geographic Information
			2014		2013		2012
	United States	$	19,483	$	18,965	$	19,961
	Europe		8,939		9,077		9,286
	Other		12,856		12,451		12,305

Note_11_Geographic_LongLived_A1

Note 11 - Geographic Long-Lived Assets Information: Schedule Of Long-Lived Assets By Geographic Area (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule Of Long-Lived Assets By Geographic Area
			2014		2013		2012
	United States	$	11,349	$	11,355	$	11,590
	England		36,199		41,216		43,106
	Ireland		3,222		3,829		3,704
	Australia		631		24		0

Note_12_Revenues_by_Product_Ca1

Note 12 - Revenues by Product Category: Schedule Of Revenues By Product Category (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule Of Revenues By Product Category
	Product Category		2014		2013		2012
	Obstetrics	$	4,669	$	5,085	$	5,194
	Gynecology/Electrosurgery/Urology		24,088		22,687		23,142
	Neonatal		6,222		5,920		6,539
	Blood Pressure Monitoring and Accessories		6,299		6,801		6,677

Recovered_Sheet10

Note 1 - Summary of Significant Accounting Policies: Intangible Assets (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Details
Foreign Currency Exchange Rate, Translation	1.5586
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$2,544
Finite-Lived Intangible Assets, Amortization Expense, Year Two	2,512
Finite-Lived Intangible Assets, Amortization Expense, Year Three	2,496
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Four	2,496
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five	$2,496

Recovered_Sheet11

Note 1 - Summary of Significant Accounting Policies: Legal Costs (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Details
Estimated Litigation Liability	$110	$148

Recovered_Sheet12

Note 1 - Summary of Significant Accounting Policies: Earnings Per Share: Schedule of Weighted Average Number of Shares (Details)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Weighted Average Number of Shares Outstanding, Basic	3,747	3,728	3,677
Weighted Average Number Diluted Shares Outstanding Adjustment	27	47	34
Weighted Average Number of Shares Outstanding, Diluted	3,774	3,775	3,711

Recovered_Sheet13

Note 1 - Summary of Significant Accounting Policies: Stock-based Compensation (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Allocated Share-based Compensation Expense	$74	$28	$70

Note_2_Detail_of_Certain_Balan5

Note 2 - Detail of Certain Balance Sheet Accounts: Schedule of Accounts and Other Receivables (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Details
Accounts Receivable, Gross, Current	$3,993	$3,754
Income Taxes Receivable, Current	787	620
Interest Receivable and Other Assets	36	103
Allowance for Doubtful Accounts Receivable, Current	-113	-143
Accounts and Other Receivables, Net, Current	$4,703	$4,334

Note_2_Detail_of_Certain_Balan6

Note 2 - Detail of Certain Balance Sheet Accounts: Schedule of Inventory, Current (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Details
Inventory, Finished Goods, Net of Reserves	$1,847	$1,495
Inventory, Work in Process, Gross	1,103	984
Inventory, Raw Materials, Gross	1,922	2,225
Inventories	$4,872	$4,704

Note_2_Detail_of_Certain_Balan7

Note 2 - Detail of Certain Balance Sheet Accounts: Schedule of Finite-Lived Intangible Assets (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Details
Finite-Lived Patents, Gross	$2,113	$2,076
Finite-Lived Noncompete Agreements, Gross	156	166
Finite-Lived Trademarks, Gross	11,396	12,102
Finite-Lived Customer Relationships, Gross	11,144	11,850
Regulatory approvals & product certifications	14,866	15,808
Other intangible assets	39,675	42,002
Other intangible assets - accumulated amortization	-11,655	-9,556
Finite-Lived Intangible Assets, Net	$28,020	$32,446

Note_2_Detail_of_Certain_Balan8

Note 2 - Detail of Certain Balance Sheet Accounts: Schedule of Accrued Expenses (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Details
Accrued Income Taxes, Current	$2,445	$1,237
Employee-related Liabilities, Current	940	1,103
Estimated Litigation Liability, Current	110	148
Other	653	298
Accrued expenses	$4,148	$2,786

Note_3_Investments_Schedule_of1

Note 3 - Investments: Schedule of Available-for-sale Securities Reconciliation (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Details
Available-for-sale Securities, Amortized Cost Basis	$42	$42
Available-for-sale Securities, Gross Unrealized Gains	16	14
Available-for-sale Securities, Equity Securities	$58	$56

Note_3_Investments_Availablefo1

Note 3 - Investments: Available-for-sale Securities (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Details
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	$8
Available-for-sale Securities, Gross Unrealized Gain (Loss)	2	14
Available-for-sale Securities, Income Tax Expense on Change in Unrealized Holding Gain (Loss)	-1	-6
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	$9	$8

Note_3_Investments_Details

Note 3 - Investments (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Proceeds from Sale of Available-for-sale Securities	$0	$0	$47

Note_4_Fair_Value_Measurements2

Note 4 - Fair Value Measurements and Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Measurements, Recurring
Equity, Fair Value Disclosure	$58	$56
Fair Value, Inputs, Level 1
Equity, Fair Value Disclosure	$58	$56

Note_5_Property_and_Equipment_2

Note 5 - Property and Equipment: Property, Plant and Equipment (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Details
Land	$1,342	$1,399
Buildings and Improvements, Gross	10,657	10,662
Machinery and Equipment, Gross	15,483	15,560
Construction in Progress, Gross	131	33
Property, Plant and Equipment, Gross	27,613	27,654
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	-19,377	-19,325
Property and equipment - net	$8,236	$8,329

Note_5_Property_and_Equipment_3

Note 5 - Property and Equipment: Property Plant and Equipment by Location (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Land	$1,342	$1,399
Buildings and Improvements, Gross	10,657	10,662
Machinery and Equipment, Gross	15,483	15,560
Construction in Progress, Gross	131	33
Property, Plant and Equipment, Gross	27,613	27,654
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	-19,377	-19,325
Property and equipment - net	8,236	8,329
Utah
Land	926	926
Buildings and Improvements, Gross	5,635	5,614
Machinery and Equipment, Gross	13,854	13,650
Construction in Progress, Gross	120	25
Property, Plant and Equipment, Gross	20,535	20,215
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	-16,482	-16,179
Property and equipment - net	4,053	4,036
England
Machinery and Equipment, Gross	554	739
Construction in Progress, Gross	7	4
Property, Plant and Equipment, Gross	561	743
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	-212	-300
Property and equipment - net	349	443
Australia
Buildings and Improvements, Gross	585
Machinery and Equipment, Gross	43	24
Construction in Progress, Gross		1
Property, Plant and Equipment, Gross	628	25
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	-16	-5
Property and equipment - net	612	20
Ireland
Land	416	473
Buildings and Improvements, Gross	4,437	5,048
Machinery and Equipment, Gross	1,032	1,147
Construction in Progress, Gross	4	3
Property, Plant and Equipment, Gross	5,889	6,671
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	-2,667	-2,841
Property and equipment - net	$3,222	$3,830

Note_6_Longterm_Debt_Details

Note 6 - Long-term Debt (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
JP Morgan Chase Bank NA (Chase) Note
Debt Instrument, Description	In March 2011, the Company obtained a $14,000 loan from JPMorgan Chase Bank, N.A. (Chase), to help finance the purchase of Femcare. The terms and conditions of the loan require UTMD to a) repay the loan in equal monthly payments over 5 years, b) pay interest based on the 30-day LIBOR rate plus a margin starting at 2.80% and ranging from 2.00% to 3.75%, depending on the ratio of its funded debt to EBITDA (Leverage Ratio), c) pledge 65% of all foreign subsidiaries’ stock, d) provide first priority liens on all domestic business assets, e) maintain its Interest Coverage Ratio at 1.15 to 1.00 or better, f) maintain its Tangible Net Worth (TNW) above a minimum threshold 20% below UTMD’s TNW at closing on March 18, and g) maintain its Leverage Ratio at 2.75 to 1.00 or less. UTMD is in compliance with all of the loan financial covenants at December 31, 2014. Based on UTMD’s financial position, the bank’s margin was 2.00% at December 31, 2014. The principal balance on this note at December 31, 2014 was $1,750. The note was fully paid off in February 2015.
Debt Instrument, Face Amount	$14,000
Debt Instrument, Description of Variable Rate Basis	30-day LIBOR rate plus a margin starting at 2.80% and ranging from 2.00% to 3.75%
Debt Instrument, Basis Spread on Variable Rate	2.00%
Long-term Debt, Gross	1,750
JP Morgan Chase London Branch Note
Debt Instrument, Description	In March 2011, the Company also obtained a $12,934 loan from JP Morgan Chase, London Branch, to help finance UTMD’s purchase of Femcare. Terms and conditions of the loan are the same as those listed above for the $14,000 U.S. loan. The principal balance on this note at December 31, 2014 was $3,117. The note was fully paid off in February 2015.
Debt Instrument, Face Amount	12,934
Long-term Debt, Gross	$3,117

Note_7_Commitments_and_Conting2

Note 7 - Commitments and Contingencies (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Operating Leases, Rent Expense, Net	$225	$219	$258

Note_7_Commitments_and_Conting3

Note 7 - Commitments and Contingencies: Schedule of Future Minimum Rental Payments for Operating Leases (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Details
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$169
Operating Leases, Future Minimum Payments, Due in Two Years	74
Operating Leases, Future Minimum Payments, Due in Three Years	43
Operating Leases, Future Minimum Payments, Due in Four Years	43
Operating Leases, Future Minimum Payments, Due in Five Years	43
Operating Leases, Future Minimum Payments, Due Thereafter	513
Operating Leases, Future Minimum Payments Due	$885

Note_8_Income_Taxes_Schedule_o4

Note 8 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current
Deferred Tax Assets, Inventory	$78	$82
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts	26	27
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities	65	57
Deferred Tax Assets, Other	27	55
Unrealized investment loss	107	107
Deferred Tax Assets, Net	303	328
Long-Term
Deferred Tax Assets, Other	-64	-85
Deferred Tax Liabilities Depreciation and Amortization	-6,511	-7,369
Deferred Tax Assets, Net	($6,575)	($7,454)

Note_8_Income_Taxes_Schedule_o5

Note 8 - Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Current Income Tax Expense (Benefit)	$5,288	$4,266	$4,960
Deferred Income Tax Expense	-854	-1,196	-592
Provision for income taxes	$4,434	$3,070	$4,368

Note_8_Income_Taxes_Schedule_o6

Note 8 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$2,632	$2,580	$2,741
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	255	250	266
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount	1,770	542	1,603
Effective Income Tax Rate Reconciliation, Deduction, Qualified Production Activity, Amount	-244	-244	-266
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	21	-58	24
Provision for income taxes	$4,434	$3,070	$4,368

Note_8_Income_Taxes_Schedule_o7

Note 8 - Income Taxes: Schedule of Income before Income Tax, Domestic and Foreign (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Income (Loss) from Continuing Operations before Income Taxes, Domestic	$7,717	$7,587	$7,989
Income (Loss) from Continuing Operations before Income Taxes, Foreign	8,095	6,889	6,548
Income before provision for income taxes	$15,812	$14,476	$14,537

Note_9_Options_Details

Note 9 - Options (Details) (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	204
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	91	91	150
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options	$103	$281	$178
Allocated Share-based Compensation Expense	$74	$28	$70
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$9.64		$3.92

Note_9_Options_Schedule_of_Sha3

Note 9 - Options: Schedule of Share-based Compensation, Stock Options, Activity (Details)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	39		13
Price Range Per Share Granted	49.18 - 50.72		33.30 - 33.30
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	4	3	19
Price Range Per Share Expired	25.59 - 49.18	17.71 - 33.30	24.00 - 28.13
Price Range Per Share Exercised	18.00 - 33.30	17.71 - 33.30	15.01 - 31.33
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	91	91	150
Price Range Per Share Outstanding	21.68 - 50.72	18.00 - 33.30	17.71 - 33.30
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	48	77	120
Price Range Per Share Total Exercisable	21.68 - 33.30	18.00 - 33.30	17.71 - 31.33
Common Stock
Common stock issued upon exercise of employee stock options, shares	35	55	82

Note_9_Options_Schedule_of_Sha4

Note 9 - Options: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments	$0.26		$0.26
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	27.00%		22.80%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.50%		0.54%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	4 years 8 months 12 days		3 years 9 months 18 days

Note_9_Options_Schedule_of_Sha5

Note 9 - Options: Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$21.68
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$50.72
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options	90,538
Weighted Average Remaining Contractual Life (Years)	6.39
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price	$36.70
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	47,587
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price	$27.60
Range 1
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$21.68
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$24
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options	15,399
Weighted Average Remaining Contractual Life (Years)	3.58
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price	$23.68
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	15,399
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price	$23.68
Range 2
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$26.52
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$33.30
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options	38,139
Weighted Average Remaining Contractual Life (Years)	4.65
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price	$29.82
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	32,188
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price	$29.48
Range 3
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$49.18
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$50.72
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options	37,000
Weighted Average Remaining Contractual Life (Years)	9.35
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price	$49.22
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	0
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price	$0

Note_10_Geographic_Information2

Note 10 - Geographic Information: Schedule Of Geographic Information (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Company Sales in the United States	$19,483	$18,965	$19,961
Company Sales in Europe	8,939	9,077	9,286
Company Sales Other	$12,856	$12,451	$12,305

Note_11_Geographic_LongLived_A2

Note 11 - Geographic Long-Lived Assets Information: Schedule Of Long-Lived Assets By Geographic Area (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Details
Long-lived assets in the United States	$11,349	$11,355	$11,590
Long-lived assets in England	36,199	41,216	43,106
Long-lived assets in Ireland	3,222	3,829	3,704
Long-lived assets in Australia	$631	$24	$0

Note_12_Revenues_by_Product_Ca2

Note 12 - Revenues by Product Category: Schedule Of Revenues By Product Category (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Company Revenue Obstetrics	$4,669	$5,085	$5,194
Company Revenue Gynecology/Electrosurgery/Urology	24,088	22,687	23,142
Company Revenue Neonatal	6,222	5,920	6,539
Company Revenue Blood Pressure Monitoring and Accessories	$6,299	$6,801	$6,677

Note_13_Product_Sale_and_Purch1

Note 13 - Product Sale and Purchase Commitments (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Royalty income	$99	$90	$89

Note_14_Employee_Benefit_Plans1

Note 14 - Employee Benefit Plans (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Defined Contribution Plan, Employer Discretionary Contribution Amount	$165	$138	$161