Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2021 | Aug. 05, 2021 | |
Details | ||
Entity Registrant Name | UTAH MEDICAL PRODUCTS INC | |
Entity Central Index Key | 0000706698 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2021 | |
Current Fiscal Year End Date | --12-31 | |
Trading Symbol | UTMD | |
Entity Tax Identification Number | 87-0342734 | |
Entity Common Stock, Shares Outstanding | 3,646,611 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false | |
Entity Small Business | true | |
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, $0.01 par value | |
Security Exchange Name | NASDAQ | |
Entity Interactive Data Current | Yes | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q2 |
UTAH MEDICAL PRODUCTS, INC. CON
UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash & Investments | $ 59,506 | $ 51,590 |
Accounts & other receivables, net | 4,606 | 4,104 |
Inventories | 6,118 | 6,222 |
Other current assets | 357 | 346 |
Total current assets | 70,587 | 62,262 |
Property and equipment, net | 10,812 | 10,949 |
Operating lease - right-of-use assets, net | 356 | 377 |
Goodwill | 14,236 | 14,164 |
Other intangible assets | 56,510 | 56,159 |
Other intangible assets - accumulated amortization | (35,707) | (32,166) |
Other intangible assets, net | 20,803 | 23,993 |
Total assets | 116,794 | 111,745 |
Current liabilities: | ||
Accounts payable | 1,186 | 788 |
Accrued expenses | 3,245 | 3,003 |
Total current liabilities | 4,431 | 3,791 |
Deferred tax liability - Femcare IIA | 2,355 | 2,151 |
Other long term liabilities | 1,835 | 1,995 |
Operating lease liability | 322 | 335 |
Deferred income taxes | 486 | 651 |
Total liabilities | 9,429 | 8,923 |
Stockholders' equity: | ||
Common stock - $.01 par value; authorized - 50,000 shares; issued - June 30, 2021, 3,646 shares and December 31, 2020, 3,643 shares | 36 | 36 |
Accumulated other comprehensive loss | (8,286) | (8,281) |
Additional paid-in capital | 289 | 115 |
Retained earnings | 115,326 | 110,952 |
Total stockholders' equity | 107,365 | 102,822 |
Total liabilities and stockholders' equity | $ 116,794 | $ 111,745 |
UTAH MEDICAL PRODUCTS, INC. C_2
UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED BALANCE SHEET - Parenthetical - $ / shares shares in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Details | ||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 50,000 | 50,000 |
Common Stock, Shares, Issued | 3,646 | 3,643 |
Common Stock, Shares, Outstanding | 3,646 | 3,643 |
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, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Details | ||||
Sales, net | $ 12,604 | $ 8,787 | $ 23,568 | $ 19,689 |
Cost of goods sold | 4,819 | 3,837 | 8,836 | 7,903 |
Gross profit | 7,785 | 4,950 | 14,732 | 11,786 |
Operating expense | ||||
Selling, general and administrative | 2,892 | 2,857 | 5,821 | 5,696 |
Research & development | 128 | 116 | 259 | 250 |
Total operating expenses | 3,020 | 2,973 | 6,080 | 5,946 |
Operating income | 4,765 | 1,977 | 8,652 | 5,840 |
Other income | 60 | 0 | 71 | 125 |
Income before provision for income taxes | 4,825 | 1,977 | 8,723 | 5,965 |
Provision for income taxes | 1,399 | 664 | 2,273 | 1,513 |
Net income | $ 3,426 | $ 1,313 | $ 6,450 | $ 4,452 |
Earnings per common share (basic) | $ 0.94 | $ 0.36 | $ 1.77 | $ 1.21 |
Earnings per common share (diluted) | $ 0.94 | $ 0.36 | $ 1.76 | $ 1.21 |
Shares outstanding - basic | 3,646 | 3,643 | 3,645 | 3,675 |
Shares outstanding - diluted | 3,655 | 3,659 | 3,656 | 3,690 |
Other comprehensive income (loss): | ||||
Foreign currency translation net of taxes of $0 in all periods | $ 49 | $ 522 | $ (5) | $ (1,927) |
Total comprehensive income | $ 3,475 | $ 1,835 | $ 6,445 | $ 2,525 |
UTAH MEDICAL PRODUCTS, INC. C_4
UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED STATEMENT OF INCOME - Parenthetical - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
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, 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 | 48 | 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 | 3,643 | ||||
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 | 3,643 | ||||
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 |
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 | ||||
Equity Balance, value at Dec. 31, 2020 | $ 36 | 115 | (8,281) | 110,952 | 102,822 |
Equity Balance, shares at Dec. 31, 2020 | 3,643 | ||||
Common stock issued upon exercise of employee stock options | $ 0 | 89 | 0 | 0 | 89 |
Common stock issued upon exercise of employee stock options, shares | 3 | ||||
Stock option compensation expense | $ 0 | 41 | 0 | 0 | 41 |
Foreign currency translation adjustment | 0 | 0 | (54) | 0 | (54) |
Common stock dividends | 0 | 0 | 0 | (1,039) | (1,039) |
Net income | 0 | 0 | 0 | 3,024 | 3,024 |
Equity Balance, value at Mar. 31, 2021 | $ 36 | 245 | (8,335) | 112,937 | 104,883 |
Equity Balance, shares at Mar. 31, 2021 | 3,646 | ||||
Equity Balance, value at Dec. 31, 2020 | $ 36 | 115 | (8,281) | 110,952 | 102,822 |
Equity Balance, shares at Dec. 31, 2020 | 3,643 | ||||
Foreign currency translation adjustment | (5) | ||||
Net income | 6,450 | ||||
Equity Balance, value at Jun. 30, 2021 | $ 36 | 289 | (8,286) | 115,326 | 107,365 |
Equity Balance, shares at Jun. 30, 2021 | 3,646 | ||||
Equity Balance, value at Mar. 31, 2021 | $ 36 | 245 | (8,335) | 112,937 | 104,883 |
Equity Balance, shares at Mar. 31, 2021 | 3,646 | ||||
Common stock issued upon exercise of employee stock options | $ 0 | 3 | 0 | 0 | 3 |
Common stock issued upon exercise of employee stock options, shares | 0 | ||||
Stock option compensation expense | $ 0 | 41 | 0 | 0 | 41 |
Foreign currency translation adjustment | 0 | 0 | 49 | 0 | 49 |
Common stock dividends | 0 | 0 | 0 | (1,037) | (1,037) |
Net income | 0 | 0 | 0 | 3,426 | 3,426 |
Equity Balance, value at Jun. 30, 2021 | $ 36 | $ 289 | $ (8,286) | $ 115,326 | $ 107,365 |
Equity Balance, shares at Jun. 30, 2021 | 3,646 |
UTAH MEDICAL PRODUCTS, INC. C_6
UTAH MEDICAL PRODUCTS, INC. CONSOLIDATED CONDENSED STATEMENT OF CASH FLOW - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 6,450 | $ 4,452 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Depreciation | 325 | 335 |
Amortization | 3,335 | 3,242 |
Provision for (recovery of) losses on accounts receivable | 8 | (14) |
Amortization of Right of Use Assets | 21 | 19 |
Deferred income taxes | 22 | 51 |
Stock-based compensation expense | 82 | 72 |
Tax benefit attributable to exercise of stock options | 5 | 7 |
Changes in operating assets and liabilities: | ||
Accounts receivable and other receivables | (517) | 903 |
Inventories | 75 | 387 |
Prepaid expenses and other current assets | (14) | 40 |
Accounts payable | 399 | (528) |
Accrued expenses | 34 | 385 |
Total adjustments | 3,775 | 4,899 |
Net cash provided by operating activities | 10,225 | 9,351 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Property and equipment | (222) | (711) |
Intangible assets | 0 | 0 |
Net cash used in investing activities | (222) | (711) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from issuance of common stock - options | 92 | 79 |
Common stock purchased and retired | 0 | (6,426) |
Payment of dividends | (2,077) | (2,077) |
Net cash used in financing activities | (1,985) | (8,424) |
Effect of exchange rate changes on cash | (102) | (651) |
Net increase/(decrease) in cash and cash equivalents | 7,916 | (435) |
Cash at beginning of period | 51,590 | 42,787 |
Cash at end of period | 59,506 | 42,352 |
Cash paid during the period for income taxes | 2,279 | 786 |
Cash paid during the period for interest | $ 0 | $ 0 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2021 | |
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, 2020. 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, 2021 | |
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, 2021 | |
Notes | |
Inventories | (3) Inventories at June 30, 2021 and December 31, 2020 consisted of the following: June 30, 2021 December 31, 2020 Finished goods $ 1,088 $ 1,363 Work-in-process 1,263 1,375 Raw materials 3,767 3,484 Total $ 6,118 $ 6,222 |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2021 | |
Notes | |
Stock-Based Compensation | (4) Stock-Based Compensation. At June 30, 2021, 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, 2021 | |
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, 2020 or June 30, 2021. |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Jun. 30, 2021 | |
Notes | |
Revenue Recognition | (6) Global 2Q 2021 revenues (USD) by product category: Domestic Outside US Total Obstetrics $ 946 $ 213 $ 1,159 Gynecology/Electrosurgery/Urology 2,873 2,801 5,674 Neonatal 1,303 339 1,642 Blood Pressure Monitoring and Accessories 2,901 1,228 4,129 Total $ 8,023 $ 4,581 $ 12,604 Global 1H 2021 revenues (USD) by product category: Domestic Outside US Total Obstetrics $ 1,850 $ 326 $ 2,176 Gynecology/Electrosurgery/Urology 5,486 5,316 10,802 Neonatal 2,476 753 3,229 Blood Pressure Monitoring and Accessories 4,993 2,368 7,361 Total $ 14,805 $ 8,763 $ 23,568 |
Leases
Leases | 6 Months Ended |
Jun. 30, 2021 | |
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 10 years and on the automobile is 6 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, 2021 Operating Lease Cost ( in thousands $15 Right of Use Assets obtained in exchange for new operating lease Obligations - Other Information As of June 30, 2021 Weighted Average Remaining Lease Term – Operating Leases 10 years Weighted Average Discount Rate – Operating Leases 5.4% Operating lease liabilities/ payments ( in thousands Operating lease payments, 2021 $60 Operating lease payments, 2022 $45 Operating lease payments, 2023 $45 Operating lease payments, 2024 $45 Operating lease payments, 2025 $45 Thereafter $254 Reconciliation of operating lease liabilities/ payments to operating lease liabilities ( in thousands Total operating lease liabilities/ payments $464 Operating lease liabilities – current (included in Accrued Expenses) $34 Operating lease liabilities – long term $322 Present value adjustment $108 Maturities of lease liabilities were as follows: ( in thousands Year ending December 31, 2021 $41 2022 $27 2023 $29 2024 $30 2025 $32 Thereafter $218 |
CSI Distribution Agreement Purc
CSI Distribution Agreement Purchase Disclosure | 6 Months Ended |
Jun. 30, 2021 | |
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 2.33 year life as of June 30, 2021 of the prior CSI distribution agreement with Femcare. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2021 | |
Notes | |
Earnings Per Share | (9) Earnings Per Share. Basic earnings per share is calculated by dividing net income attributable to the common stockholders of the company by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock on June 30, 2021. 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, 2021 2020 2021 2020 Numerator Net income 3,426 1,313 6,450 4,452 Denominator Weighted average shares, basic 3,646 3,643 3,645 3,675 Dilutive effect of stock options 9 16 11 15 Diluted shares 3,655 3,659 3,656 3,690 Earnings per share, basic 0.94 0.36 1.77 1.21 Earnings per share, diluted 0.94 0.36 1.76 1.21 |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2021 | |
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, 2021 | |
Policies | |
New Accounting Pronouncements, Policy | 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_ Schedule of Invent
Inventories: Schedule of Inventory, Current (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Tables/Schedules | |
Schedule of Inventory, Current | June 30, 2021 December 31, 2020 Finished goods $ 1,088 $ 1,363 Work-in-process 1,263 1,375 Raw materials 3,767 3,484 Total $ 6,118 $ 6,222 |
Revenue Recognition_ Schedule O
Revenue Recognition: Schedule Of Revenues By Product Category (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Tables/Schedules | |
Schedule Of Revenues By Product Category | Domestic Outside US Total Obstetrics $ 946 $ 213 $ 1,159 Gynecology/Electrosurgery/Urology 2,873 2,801 5,674 Neonatal 1,303 339 1,642 Blood Pressure Monitoring and Accessories 2,901 1,228 4,129 Total $ 8,023 $ 4,581 $ 12,604 Global 1H 2021 revenues (USD) by product category: Domestic Outside US Total Obstetrics $ 1,850 $ 326 $ 2,176 Gynecology/Electrosurgery/Urology 5,486 5,316 10,802 Neonatal 2,476 753 3,229 Blood Pressure Monitoring and Accessories 4,993 2,368 7,361 Total $ 14,805 $ 8,763 $ 23,568 |
Leases_ Lease, Cost (Tables)
Leases: Lease, Cost (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Tables/Schedules | |
Lease, Cost | The components of lease cost were as follows: Three Months Ended June 30, 2021 Operating Lease Cost ( in thousands $15 Right of Use Assets obtained in exchange for new operating lease Obligations - Other Information As of June 30, 2021 Weighted Average Remaining Lease Term – Operating Leases 10 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, 2021 | |
Tables/Schedules | |
Schedule of Future Minimum Rental Payments for Operating Leases | Operating lease liabilities/ payments ( in thousands Operating lease payments, 2021 $60 Operating lease payments, 2022 $45 Operating lease payments, 2023 $45 Operating lease payments, 2024 $45 Operating lease payments, 2025 $45 Thereafter $254 |
Leases_ Reconciliation of opera
Leases: Reconciliation of operating lease liabilities (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Tables/Schedules | |
Reconciliation of operating lease liabilities | Reconciliation of operating lease liabilities/ payments to operating lease liabilities ( in thousands Total operating lease liabilities/ payments $464 Operating lease liabilities – current (included in Accrued Expenses) $34 Operating lease liabilities – long term $322 Present value adjustment $108 |
Leases_ Lessee, Operating Lease
Leases: Lessee, Operating Lease, Liability, Maturity (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Tables/Schedules | |
Lessee, Operating Lease, Liability, Maturity | Maturities of lease liabilities were as follows: ( in thousands Year ending December 31, 2021 $41 2022 $27 2023 $29 2024 $30 2025 $32 Thereafter $218 |
Earnings Per Share_ Schedule of
Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Tables/Schedules | |
Schedule of Earnings Per Share, Basic and Diluted | The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share: (in thousands) Three months ended Six months ended June 30, June 30, 2021 2020 2021 2020 Numerator Net income 3,426 1,313 6,450 4,452 Denominator Weighted average shares, basic 3,646 3,643 3,645 3,675 Dilutive effect of stock options 9 16 11 15 Diluted shares 3,655 3,659 3,656 3,690 Earnings per share, basic 0.94 0.36 1.77 1.21 Earnings per share, diluted 0.94 0.36 1.76 1.21 |
Inventories_ Schedule of Inve_2
Inventories: Schedule of Inventory, Current (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Details | ||
Finished goods | $ 1,088 | $ 1,363 |
Work-in-process | 1,263 | 1,375 |
Raw materials | 3,767 | 3,484 |
Total | $ 6,118 | $ 6,222 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Details | ||||
Allocated Share-based Compensation Expense | $ 41 | $ 49 | $ 82 | $ 72 |
Warranty Reserve (Details)
Warranty Reserve (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
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, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Sales, net | $ 12,604 | $ 8,787 | $ 23,568 | $ 19,689 |
Obstetrics | ||||
Sales, net | 1,159 | 2,176 | ||
Gynecology/Electrosurgery/Urology | ||||
Sales, net | 5,674 | 10,802 | ||
Neonatal | ||||
Sales, net | 1,642 | 3,229 | ||
Blood Pressure Monitoring and Accessories | ||||
Sales, net | 4,129 | 7,361 | ||
DomesticUsMember | ||||
Sales, net | 8,023 | 14,805 | ||
DomesticUsMember | Obstetrics | ||||
Sales, net | 946 | 1,850 | ||
DomesticUsMember | Gynecology/Electrosurgery/Urology | ||||
Sales, net | 2,873 | 5,486 | ||
DomesticUsMember | Neonatal | ||||
Sales, net | 1,303 | 2,476 | ||
DomesticUsMember | Blood Pressure Monitoring and Accessories | ||||
Sales, net | 2,901 | 4,993 | ||
OutsideUsMember | ||||
Sales, net | 4,581 | 8,763 | ||
OutsideUsMember | Obstetrics | ||||
Sales, net | 213 | 326 | ||
OutsideUsMember | Gynecology/Electrosurgery/Urology | ||||
Sales, net | 2,801 | 5,316 | ||
OutsideUsMember | Neonatal | ||||
Sales, net | 339 | 753 | ||
OutsideUsMember | Blood Pressure Monitoring and Accessories | ||||
Sales, net | $ 1,228 | $ 2,368 |
Leases (Details)
Leases (Details) | Jun. 30, 2021 |
Details | |
Lessee Operating Lease for Parking Lot Term of Contract | 10 years |
Lessee Operating Lease for Automobile Term of Contract | 6 months |
Leases_ Lease, Cost (Details)
Leases: Lease, Cost (Details) $ in Thousands | 3 Months Ended |
Jun. 30, 2021USD ($) | |
Details | |
Operating Lease, Cost | $ 15 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 0 |
Operating Lease, Weighted Average Remaining Lease Term | 10 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 | Dec. 31, 2020USD ($) |
Details | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 60 |
Operating Leases, Future Minimum Payments, Due in Two Years | 45 |
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 | $ 254 |
Leases_ Reconciliation of ope_2
Leases: Reconciliation of operating lease liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Details | ||
Lessee, Operating Lease, Liability, to be Paid | $ 464 | |
Operating Lease, Liability, Current | 34 | |
Operating lease liability | 322 | $ 335 |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | $ 108 |
Leases_ Lessee, Operating Lea_2
Leases: Lessee, Operating Lease, Liability, Maturity (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Details | |
Lessee, Operating Lease, Liability, to be Paid, Year One | $ 41 |
Lessee, Operating Lease, Liability, to be Paid, Year Two | 27 |
Lessee, Operating Lease, Liability, to be Paid, Year Three | 29 |
Lessee, Operating Lease, Liability, to be Paid, Year Four | 30 |
Lessee, Operating Lease, Liability, to be Paid, Year Five | 32 |
Lessee, Operating Lease, Liability, to be Paid, after Year Five | $ 218 |
CSI Distribution Agreement Pu_2
CSI Distribution Agreement Purchase Disclosure (Details) - CooperSurgical Inc $ in Thousands | Jun. 30, 2021 | Mar. 31, 2019USD ($) |
Finite-lived Intangible Assets Acquired | $ 21,000 | |
Remaining years of exclusive U.S. distribution rights for Femcare's Filshie Clip System | 2.33 |
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, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Details | ||||||
Net income | $ 3,426 | $ 3,024 | $ 1,313 | $ 3,140 | $ 6,450 | $ 4,452 |
Weighted average shares, basic | 3,646 | 3,643 | 3,645 | 3,675 | ||
Dilutive effect of stock options | 9 | 16 | 11 | 15 | ||
Diluted shares | 3,655 | 3,659 | 3,656 | 3,690 | ||
Earnings per share, basic | $ 0.94 | $ 0.36 | $ 1.77 | $ 1.21 | ||
Earnings per share, diluted | $ 0.94 | $ 0.36 | $ 1.76 | $ 1.21 |