Utah Medical Products (UTMD) 10-Q 7 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 06, 2020
Details
Entity Registrant Name	UTAH MEDICAL PRODUCTS INC
Entity Central Index Key	0000706698
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Current Fiscal Year End Date	--12-31
Trading Symbol	UTMD
Entity Tax Identification Number	87-0342734
Entity Common Stock, Shares Outstanding		3,643,146
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-12575
Entity Incorporation, State or Country Code	UT
Entity Address, Address Line One	7043 South 300 West
Entity Address, City or Town	Midvale
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84047
City Area Code	801
Local Phone Number	566-1200
Title of 12(b) Security	Common stock, $0.01 par value
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

UTAH MEDICAL PRODUCTS, INC. CON

UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash & Investments	$ 42,352	$ 42,787
Accounts & other receivables, net	3,792	4,742
Inventories	6,580	6,913
Other current assets	393	444
Total current assets	53,117	54,886
Property and equipment, net	10,417	10,314
Operating lease - right-of-use assets, net	395	414
Goodwill	13,503	13,961
Other intangible assets	53,039	55,205
Other intangible assets - accumulated amortization	(26,926)	(24,993)
Other intangible assets, net	26,113	30,212
Total assets	103,545	109,787
Current liabilities:
Accounts payable	560	1,098
Accrued expenses	2,683	2,350
Total current liabilities	3,243	3,448
Deferred tax liability - Femcare IIA	1,995	2,110
Other long term liabilities	2,135	2,239
Operating lease liability	356	376
Deferred income taxes	529	521
Total liabilities	8,258	8,694
Stockholders' equity:
Preferred stock - $.01 par value; authorized - 5,000 shares; no shares issued or outstanding	0	0
Common stock - $.01 par value; authorized - 50,000 shares; issued - June 30, 2020, 3,643 shares and December 31, 2019, 3,722 shares	36	37
Accumulated other comprehensive loss	(11,710)	(9,782)
Additional paid-in capital	80	18
Retained earnings	106,881	110,820
Total stockholders' equity	95,287	101,093
Total liabilities and stockholders' equity	$ 103,545	$ 109,787

UTAH MEDICAL PRODUCTS, INC. C_2

UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED BALANCE SHEET - Parenthetical - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Details
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	3,643,000	3,722,000
Common Stock, Shares, Outstanding	3,643,000	3,722,000

UTAH MEDICAL PRODUCTS, INC. C_3

UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Details
Sales, net	$ 8,787	$ 11,846	$ 19,689	$ 22,579
Cost of goods sold	3,837	4,346	7,903	8,306
Gross profit	4,950	7,500	11,786	14,273
Operating expense
Selling, general and administrative	2,857	2,906	5,696	5,463
Research & development	116	113	250	228
Total operating expenses	2,973	3,019	5,946	5,691
Operating income	1,977	4,481	5,840	8,582
Other income	0	84	125	120
Income before provision for income taxes	1,977	4,565	5,965	8,702
Provision for income taxes	664	1,040	1,513	2,038
Net income	$ 1,313	$ 3,525	$ 4,452	$ 6,664
Earnings per common share (basic)	$ 0.36	$ 0.95	$ 1.21	$ 1.79
Earnings per common share (diluted)	$ 0.36	$ 0.94	$ 1.21	$ 1.78
Shares outstanding - basic	3,643	3,721	3,675	3,721
Shares outstanding - diluted	3,659	3,735	3,690	3,737
Other comprehensive income (loss):
Foreign currency translation net of taxes of $0 in all periods	$ 522	$ (464)	$ (1,927)	$ 484
Total comprehensive income	$ 1,835	$ 3,061	$ 2,525	$ 7,148

UTAH MEDICAL PRODUCTS, INC. C_4

UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED STATEMENT OF INCOME - Parenthetical - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Details
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ 0	$ 0	$ 0	$ 0

UTAH MEDICAL PRODUCTS, INC. C_5

UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-in Capital	Comprehensive Income	Retained Earnings	Total
Equity Balance, value at Dec. 31, 2018	$ 37	$ 121	$ (11,290)	$ 100,123	$ 88,991
Equity Balance, shares at Dec. 31, 2018	3,720
Common stock issued upon exercise of employee stock options	$ 0	97	0	0	97
Common stock issued upon exercise of employee stock options, shares	3
Stock option compensation expense	$ 0	28	0	0	28
Common stock purchased and retired	0	0	0	0	0
Foreign currency translation adjustment	0	0	948	0	948
Common stock dividends	0	0	0	(1,028)	(1,028)
Net income	0	0	0	3,139	3,139
Equity Balance, value at Mar. 31, 2019	$ 37	246	(10,342)	102,234	92,175
Equity Balance, shares at Mar. 31, 2019	3,723
Equity Balance, value at Dec. 31, 2018	$ 37	121	(11,290)	100,123	88,991
Equity Balance, shares at Dec. 31, 2018	3,720
Foreign currency translation adjustment					484
Net income					6,664
Equity Balance, value at Jun. 30, 2019	$ 37	0	(10,806)	104,681	93,912
Equity Balance, shares at Jun. 30, 2019	3,719
Equity Balance, value at Mar. 31, 2019	$ 37	246	(10,342)	102,234	92,175
Equity Balance, shares at Mar. 31, 2019	3,723
Common stock issued upon exercise of employee stock options	$ 0	74	0	0	74
Stock option compensation expense	0	28	0	0	28
Common stock purchased and retired	$ 0	(348)	0	(50)	(398)
Common stock purchased and retired, shares	(5)
Foreign currency translation adjustment	$ 0	0	(464)	0	(464)
Common stock dividends	0	0	0	(1,028)	(1,028)
Net income	0	0	0	3,525	3,525
Equity Balance, value at Jun. 30, 2019	$ 37	0	(10,806)	104,681	93,912
Equity Balance, shares at Jun. 30, 2019	3,719
Equity Balance, value at Dec. 31, 2019	$ 37	18	(9,783)	110,820	101,092
Equity Balance, shares at Dec. 31, 2019	3,722
Common stock issued upon exercise of employee stock options	$ 0	47	0	0	48
Common stock issued upon exercise of employee stock options, shares	1
Stock option compensation expense	$ 0	23	0	0	23
Common stock purchased and retired	$ (1)	(89)	0	(6,336)	(6,426)
Common stock purchased and retired, shares	(80)
Foreign currency translation adjustment	$ 0	0	(2,449)	0	(2,449)
Common stock dividends	0	0	0	(1,042)	(1,042)
Net income	0	0	0	3,140	3,140
Equity Balance, value at Mar. 31, 2020	$ 36	0	(12,232)	106,582	94,386
Equity Balance, shares at Mar. 31, 2020	3,642
Equity Balance, value at Dec. 31, 2019	$ 37	18	(9,783)	110,820	101,092
Equity Balance, shares at Dec. 31, 2019	3,722
Foreign currency translation adjustment					(1,927)
Net income					4,452
Equity Balance, value at Jun. 30, 2020	$ 36	80	(11,710)	106,881	95,287
Equity Balance, shares at Jun. 30, 2020	3,643
Equity Balance, value at Mar. 31, 2020	$ 36	0	(12,232)	106,582	94,386
Equity Balance, shares at Mar. 31, 2020	3,642
Common stock issued upon exercise of employee stock options	$ 0	32	0	0	32
Common stock issued upon exercise of employee stock options, shares	1
Stock option compensation expense	$ 0	49	0	0	49
Common stock purchased and retired	0	0	0	0	0
Foreign currency translation adjustment	0	0	522	0	522
Common stock dividends	0	0	0	(1,013)	(1,013)
Net income	0	0	0	1,313	1,313
Equity Balance, value at Jun. 30, 2020	$ 36	$ 80	$ (11,710)	$ 106,881	$ 95,287
Equity Balance, shares at Jun. 30, 2020	3,643

UTAH MEDICAL PRODUCTS, INC. C_6

UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED CONDENSED STATEMENT OF CASH FLOW - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 4,452	$ 6,664
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	335	355
Amortization	3,242	2,902
Provision for (recovery of) losses on accounts receivable	(14)	(2)
Amortization of Right of Use Assets	19	19
Deferred income taxes	51	(278)
Stock-based compensation expense	72	56
Tax benefit attributable to exercise of stock options	7	15
Changes in operating assets and liabilities:
Accounts receivable and other receivables	903	(1,256)
Inventories	387	(2,322)
Prepaid expenses and other current assets	40	24
Accounts payable	(528)	(123)
Accrued expenses	385	(1,011)
Total adjustments	4,899	(1,621)
Net cash provided by operating activities	9,351	5,043
CASH FLOWS FROM INVESTING ACTIVITIES:
Property and equipment	(711)	(130)
Intangible assets	0	(21,000)
Net cash used in investing activities	(711)	(21,130)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock - options	79	171
Common stock purchased and retired	(6,426)	(398)
Payment of dividends	(2,077)	(2,055)
Net cash used in financing activities	(8,424)	(2,282)
Effect of exchange rate changes on cash	(651)	137
Net decrease in cash and cash equivalents	(435)	(18,232)
Cash at beginning of period	42,787	51,112
Cash at end of period	42,352	32,880
Cash paid during the period for income taxes	786	2,937
Cash paid during the period for interest	$ 0	$ 0

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Notes
Basis of Presentation	(1) The unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and note disclosures required by accounting principles generally accepted in the United States. These statements should be read in conjunction with the financial statements and notes included in the Utah Medical Products, Inc. ("UTMD" or "the Company") annual report on Form 10-K for the year ended December 31, 2019. In the opinion of management, the accompanying financial statements include all adjustments (consisting only of normal recurring adjustments) necessary to summarize fairly the Company's financial position and results of operations. Currency amounts are in thousands except per-share amounts and where noted.

New Accounting Pronouncements a

New Accounting Pronouncements and Changes in Accounting Principles	6 Months Ended
	Jun. 30, 2020
Notes
New Accounting Pronouncements and Changes in Accounting Principles	(2) Recent Accounting Standards. The Company has determined that recently issued accounting standards will either have no material impact on its consolidated financial position or results of operations or cash flows, or will not apply to its operations.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2020
Notes
Inventories	(3) Inventories at June 30, 2020 and December 31, 2019 consisted of the following: June 30, 2020 December 31, 2019 Finished goods $ 1,402 $ 1,708 Work-in-process 1,097 1,022 Raw materials 4,081 4,183 Total $ 6,580 $ 6,913

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Notes
Stock-Based Compensation	(4) Stock-Based Compensation. At June 30, 2020, the Company has stock-based employee compensation plans which authorize the grant of stock options to eligible employees and directors. The Company accounts for stock compensation under FASB Accounting Standards Codification (“ASC”) 718, Compensation - Stock Compensation

Warranty Reserve

Warranty Reserve	6 Months Ended
	Jun. 30, 2020
Notes
Warranty Reserve	(5) 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 were immaterial, no warranty reserve was made at December 31, 2019, or June 30, 2020.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2020
Notes
Revenue Recognition	(6) Global 2Q 2020 revenues (USD) by product category: Domestic Outside US Total Obstetrics $ 799 $ 115 $ 914 Gynecology/Electrosurgery/Urology 2,021 1,669 3,690 Neonatal 975 379 1,354 Blood Pressure Monitoring and Accessories 1,718 1,111 2,829 Total $ 5,513 $ 3,274 $ 8,787 Global 1H 2020 revenues (USD) by product category: Domestic Outside US Total Obstetrics $ 1,707 $ 365 $ 2,072 Gynecology/Electrosurgery/Urology 4,839 4,743 9,582 Neonatal 2,115 822 2,937 Blood Pressure Monitoring and Accessories 3,295 1,803 5,098 Total $ 11,956 $ 7,733 $ 19,689

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Notes
Leases	(7) Leases UTMD has operating leases for a portion of its parking lot at its Midvale facility and an automobile at its Ireland facility. The remaining lease term on the parking lot is 11 years and on the automobile is 18 months. There are no options to extend or terminate the leases. UTMD has no other leases yet to commence. As neither lease contains implicit rates, UTMD’s incremental borrowing rate, based on information available at adoption date, was used to determine the present value of the leases. The components of lease cost were as follows: Three Months Ended June 30, 2020 Operating Lease Cost ( in thousands $15 Right of Use Assets obtained in exchange for new operating lease Obligations - Other Information Three Months Ended June 30, 2020 Weighted Average Remaining Lease Term - Operating Leases 11 years Weighted Average Discount Rate – Operating Leases 5.4% Operating lease liabilities/ payments ( in thousands Operating lease payments, 2020 $60 Operating lease payments, 2021 $60 Operating lease payments, 2022 $45 Operating lease payments, 2023 $45 Operating lease payments, 2024 $45 Thereafter $299 Reconciliation of operating lease liabilities/ payments to operating lease liabilities ( in thousands Total operating lease liabilities/ payments $538 Operating lease liabilities – current (included in Accrued Expenses) 39 Operating lease liabilities – long term 356 Present value adjustment $143 Maturities of lease liabilities were as follows: ( in thousands Year ending December 31, 2020 $38 2021 $40 2022 $27 2023 $29 2024 $30 Thereafter $248

CSI Distribution Agreement Purc

CSI Distribution Agreement Purchase Disclosure	6 Months Ended
	Jun. 30, 2020
Notes
CSI Distribution Agreement Purchase Disclosure	(8) Distribution Agreement Purchase. UTMD completed the purchase of exclusive U.S. distribution rights for the FILSHIE Clip System from CooperSurgical, Inc. (CSI) on February 1, 2019. The $21,000 purchase price represented an identifiable intangible asset which is being straight-line amortized and recognized as part of G&A expenses over a remaining 3.33 year life as of June 30, 2020 of the prior CSI distribution agreement with Femcare.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2020
Notes
Earnings Per Share	The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share: (in thousands) Three months ended Six months ended June 30, June 30, 2020 2019 2020 2019 Numerator Net income 1,313 3,525 4,452 6,664 Denominator Weighted average shares, basic 3,643 3,721 3,675 3,721 Dilutive effect of stock options 16 14 15 16 Diluted shares 3,659 3,735 3,690 3,737 Earnings per share, basic 0.36 0.95 1.21 1.79 Earnings per share, diluted 0.36 0.94 1.21 1.78

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Notes
Subsequent Events	(10) Subsequent Events.

New Accounting Pronouncements_2

New Accounting Pronouncements and Changes in Accounting Principles: New Accounting Pronouncements, Policy (Policies)	6 Months Ended
	Jun. 30, 2020
Policies
New Accounting Pronouncements, Policy

Inventories_ Schedule of Invent

Inventories: Schedule of Inventory, Current (Tables)	6 Months Ended
	Jun. 30, 2020
Tables/Schedules
Schedule of Inventory, Current	June 30, 2020 December 31, 2019 Finished goods $ 1,402 $ 1,708 Work-in-process 1,097 1,022 Raw materials 4,081 4,183 Total $ 6,580 $ 6,913

Revenue Recognition_ Schedule O

Revenue Recognition: Schedule Of Revenues By Product Category (Tables)	6 Months Ended
	Jun. 30, 2020
Tables/Schedules
Schedule Of Revenues By Product Category	Global 2Q 2020 revenues (USD) by product category: Domestic Outside US Total Obstetrics $ 799 $ 115 $ 914 Gynecology/Electrosurgery/Urology 2,021 1,669 3,690 Neonatal 975 379 1,354 Blood Pressure Monitoring and Accessories 1,718 1,111 2,829 Total $ 5,513 $ 3,274 $ 8,787 Global 1H 2020 revenues (USD) by product category: Domestic Outside US Total Obstetrics $ 1,707 $ 365 $ 2,072 Gynecology/Electrosurgery/Urology 4,839 4,743 9,582 Neonatal 2,115 822 2,937 Blood Pressure Monitoring and Accessories 3,295 1,803 5,098 Total $ 11,956 $ 7,733 $ 19,689

Leases_ Lease, Cost (Tables)

Leases: Lease, Cost (Tables)	6 Months Ended
	Jun. 30, 2020
Tables/Schedules
Lease, Cost	The components of lease cost were as follows: Three Months Ended June 30, 2020 Operating Lease Cost ( in thousands $15 Right of Use Assets obtained in exchange for new operating lease Obligations - Other Information Three Months Ended June 30, 2020 Weighted Average Remaining Lease Term - Operating Leases 11 years Weighted Average Discount Rate – Operating Leases 5.4%

Leases_ Schedule of Future Mini

Leases: Schedule of Future Minimum Rental Payments for Operating Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Tables/Schedules
Schedule of Future Minimum Rental Payments for Operating Leases	Operating lease liabilities/ payments ( in thousands Operating lease payments, 2020 $60 Operating lease payments, 2021 $60 Operating lease payments, 2022 $45 Operating lease payments, 2023 $45 Operating lease payments, 2024 $45 Thereafter $299

Leases_ Reconciliation of opera

Leases: Reconciliation of operating lease liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Tables/Schedules
Reconciliation of operating lease liabilities	Reconciliation of operating lease liabilities/ payments to operating lease liabilities ( in thousands Total operating lease liabilities/ payments $538 Operating lease liabilities – current (included in Accrued Expenses) 39 Operating lease liabilities – long term 356 Present value adjustment $143

Leases_ Lessee, Operating Lease

Leases: Lessee, Operating Lease, Liability, Maturity (Tables)	6 Months Ended
	Jun. 30, 2020
Tables/Schedules
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities were as follows: ( in thousands Year ending December 31, 2020 $38 2021 $40 2022 $27 2023 $29 2024 $30 Thereafter $248

Earnings Per Share_ Schedule of

Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Tables)	6 Months Ended
	Jun. 30, 2020
Tables/Schedules
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share: (in thousands) Three months ended Six months ended June 30, June 30, 2020 2019 2020 2019 Numerator Net income 1,313 3,525 4,452 6,664 Denominator Weighted average shares, basic 3,643 3,721 3,675 3,721 Dilutive effect of stock options 16 14 15 16 Diluted shares 3,659 3,735 3,690 3,737 Earnings per share, basic 0.36 0.95 1.21 1.79 Earnings per share, diluted 0.36 0.94 1.21 1.78

Inventories_ Schedule of Inve_2

Inventories: Schedule of Inventory, Current (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Details
Finished goods	$ 1,402	$ 1,708
Work-in-process	1,097	1,022
Raw materials	4,081	4,183
Total	$ 6,580	$ 6,913

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Details
Allocated Share-based Compensation Expense	$ 49	$ 28	$ 72	$ 56

Warranty Reserve (Details)

Warranty Reserve (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Details
Standard and Extended Product Warranty Accrual	$ 0	$ 0

Revenue Recognition_ Schedule_2

Revenue Recognition: Schedule Of Revenues By Product Category (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Sales, net	$ 8,787	$ 11,846	$ 19,689	$ 22,579
Obstetrics
Sales, net	914		2,072
Gynecology/Electrosurgery/Urology
Sales, net	3,690		9,582
Neonatal
Sales, net	1,354		2,937
Blood Pressure Monitoring and Accessories
Sales, net	2,829		5,098
DomesticUsMember
Sales, net	5,513		11,956
DomesticUsMember | Obstetrics
Sales, net	799		1,707
DomesticUsMember | Gynecology/Electrosurgery/Urology
Sales, net	2,021		4,839
DomesticUsMember | Neonatal
Sales, net	975		2,115
DomesticUsMember | Blood Pressure Monitoring and Accessories
Sales, net	1,718		3,295
OutsideUsMember
Sales, net	3,274		7,733
OutsideUsMember | Obstetrics
Sales, net	115		365
OutsideUsMember | Gynecology/Electrosurgery/Urology
Sales, net	1,669		4,743
OutsideUsMember | Neonatal
Sales, net	379		822
OutsideUsMember | Blood Pressure Monitoring and Accessories
Sales, net	$ 1,111		$ 1,803

Leases (Details)

Leases (Details)	6 Months Ended
	Jun. 30, 2020
Details
Lessee Operating Lease for Parking Lot Term of Contract	11 years
Lessee Operating Lease for Automobile Term of Contract	18 months

Leases_ Lease, Cost (Details)

Leases: Lease, Cost (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Details
Operating Lease, Cost	$ 15
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 0
Operating Lease, Weighted Average Remaining Lease Term	11 years
Operating Lease, Weighted Average Discount Rate, Percent	5.40%

Leases_ Schedule of Future Mi_2

Leases: Schedule of Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	Jun. 30, 2020USD ($)
Details
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 60
Operating Leases, Future Minimum Payments, Due in Two Years	60
Operating Leases, Future Minimum Payments, Due in Three Years	45
Operating Leases, Future Minimum Payments, Due in Four Years	45
Operating Leases, Future Minimum Payments, Due in Five Years	45
Operating Leases, Future Minimum Payments, Due Thereafter	$ 299

Leases_ Reconciliation of ope_2

Leases: Reconciliation of operating lease liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Details
Lessee, Operating Lease, Liability, to be Paid	$ 538
Operating Lease, Liability, Current	39
Operating lease liability	356	$ 376
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	$ 143

Leases_ Lessee, Operating Lea_2

Leases: Lessee, Operating Lease, Liability, Maturity (Details) $ in Thousands	Jun. 30, 2020USD ($)
Details
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 38
Lessee, Operating Lease, Liability, to be Paid, Year Two	40
Lessee, Operating Lease, Liability, to be Paid, Year Three	27
Lessee, Operating Lease, Liability, to be Paid, Year Four	29
Lessee, Operating Lease, Liability, to be Paid, Year Five	30
Lessee, Operating Lease, Liability, to be Paid, after Year Five	$ 248

CSI Distribution Agreement Pu_2

CSI Distribution Agreement Purchase Disclosure (Details) - CooperSurgical Inc $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019USD ($)
Finite-lived Intangible Assets Acquired		$ 21,000
Remaining years of exclusive U.S. distribution rights for Femcare's Filshie Clip System	3.33

Earnings Per Share_ Schedule _2

Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Details
Net income	$ 1,313	$ 3,140	$ 3,525	$ 3,139	$ 4,452	$ 6,664
Weighted average shares, basic	3,643		3,721		3,675	3,721
Dilutive effect of stock options	16		14		15	16
Diluted shares	3,659		3,735		3,690	3,737
Earnings per share, basic	$ 0.36		$ 0.95		$ 1.21	$ 1.79
Earnings per share, diluted	$ 0.36		$ 0.94		$ 1.21	$ 1.78