0000706698
--12-31
utmd
Yes
false
false
false
10-Q
2019-06-30
001-12575
UTAH MEDICAL PRODUCTS INC
UT
87-0342734
7043 South 300 West
Midvale
UT
84047
801
566-1200
Common stock, $0.01 par value
NASDAQ
Yes
Accelerated Filer
3719600
false
2019
Q2
true
false
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<p style='margin:0in;margin-bottom:.0001pt'>(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, 2018.  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.</p>
<p style='margin:0in;margin-bottom:.0001pt'> (2) Recent Accounting Standards. </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>In February 2016, new accounting guidance (ASU 2016-02, Leases (Topic 842)) was issued which requires recording most leases on the balance sheet. The new lease standard requires disclosure of key information about lease arrangements and aligns many of the underlying principles of this new model with those in the new revenue recognition standard noted above. This guidance is effective for annual reporting periods beginning after December 15, 2018, with early adoption permitted.  The new guidance became effective for UTMD on January 1, 2019.  UTMD applied the requirements using the modified retrospective method and so will not restate comparative financial statements.  Implementation of the standard resulted in addition of right of use assets and lease liabilities of $452 to the consolidated balance sheet and will require additional disclosures but will have no effect on the income statement.  UTMD’s only leases are for the parking lot at the Midvale facility and an automobile in Ireland.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company has determined that other recently issued accounting standards will either have no material impact on its consolidated financial position, results of operations or cash flows, or will not apply to its operations. </p>
<p style='margin:0in;margin-bottom:.0001pt'>In February 2016, new accounting guidance (ASU 2016-02, Leases (Topic 842)) was issued which requires recording most leases on the balance sheet. The new lease standard requires disclosure of key information about lease arrangements and aligns many of the underlying principles of this new model with those in the new revenue recognition standard noted above. This guidance is effective for annual reporting periods beginning after December 15, 2018, with early adoption permitted.  The new guidance became effective for UTMD on January 1, 2019.  UTMD applied the requirements using the modified retrospective method and so will not restate comparative financial statements.  Implementation of the standard resulted in addition of right of use assets and lease liabilities of $452 to the consolidated balance sheet and will require additional disclosures but will have no effect on the income statement.  UTMD’s only leases are for the parking lot at the Midvale facility and an automobile in Ireland.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The Company has determined that other recently issued accounting standards will either have no material impact on its consolidated financial position, results of operations or cash flows, or will not apply to its operations.</p>
452000
452000
<p style='margin:0in;margin-bottom:.0001pt;margin-bottom:6.0pt'>(3)    Inventories at June 30, 2019 and December 31, 2018 consisted of the following:</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='border-collapse:collapse'> <tr align="left"> <td width="192" valign="top" style='width:2.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="144" valign="top" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> June 30, 2019 </p> </td> <td width="11" valign="top" style='width:8.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31, 2018</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Finished goods</p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="144" valign="top" style='width:1.5in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,145</p> </td> <td width="11" valign="top" style='width:8.5pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,615</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Work-in-process</p> </td> <td width="9" valign="top" style='width:6.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="144" valign="top" style='width:1.5in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,217</p> </td> <td width="11" valign="top" style='width:8.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="135" valign="top" style='width:101.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,103</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Raw materials</p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="144" valign="top" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,350</p> </td> <td width="11" valign="top" style='width:8.5pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,694</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Total</p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="144" valign="top" style='width:1.5in;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,712</p> </td> <td width="11" valign="top" style='width:8.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,412</p> </td> </tr> </table> </div>
<div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='border-collapse:collapse'> <tr align="left"> <td width="192" valign="top" style='width:2.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="144" valign="top" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> June 30, 2019 </p> </td> <td width="11" valign="top" style='width:8.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31, 2018</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Finished goods</p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="144" valign="top" style='width:1.5in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,145</p> </td> <td width="11" valign="top" style='width:8.5pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,615</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Work-in-process</p> </td> <td width="9" valign="top" style='width:6.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="144" valign="top" style='width:1.5in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,217</p> </td> <td width="11" valign="top" style='width:8.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="135" valign="top" style='width:101.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,103</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Raw materials</p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="144" valign="top" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,350</p> </td> <td width="11" valign="top" style='width:8.5pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,694</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Total</p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="144" valign="top" style='width:1.5in;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,712</p> </td> <td width="11" valign="top" style='width:8.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,412</p> </td> </tr> </table> </div>
3145000
1615000
1217000
1103000
3350000
2694000
7712000
5412000
<p style='margin:0in;margin-bottom:.0001pt'>(4)   Stock-Based Compensation. At June 30, 2019, 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, <i>Compensation - Stock Compensation</i>.  This statement requires the Company to recognize compensation cost based on the grant date fair value of options granted to employees and directors.  In the quarters ended June 30, 2019 and 2018, the Company recognized $28 and $11, respectively, in stock based compensation cost. In the six months ended June 30, 2019 and 2018, the Company recognized $56 and $42, respectively, in stock based compensation cost.</p>
28000
11000
56000
42000
<p style='margin:0in;margin-bottom:.0001pt'> (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.” </p> <p style='margin:0in;margin-bottom:.0001pt;margin-top:6.0pt'>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, 2018, or June 30, 2019. </p>
0
0
<p style='margin:0in;margin-bottom:.0001pt'>(6)  Global 2Q 2019 revenues (USD) by product category:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='border-collapse:collapse'> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Domestic</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Outside US</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Total</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Obstetrics</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,038</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>194</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,232</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Gynecology/Electrosurgery/Urology</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,229</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,534</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,763</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Neonatal</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,149</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>287</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,436</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Blood Pressure Monitoring and Accessories</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,580</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>835</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,415</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:19.8pt;text-indent:-19.8pt'>Total</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,996</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,850</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>11,846</p> </td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>Global 1H 2019 revenues (USD) by product category:</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='border-collapse:collapse'> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Domestic</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Outside US</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Total</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Obstetrics</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,064</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>507</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,571</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Gynecology/Electrosurgery/Urology</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,307</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,038</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>12,345</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Neonatal</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,320</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>627</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,947</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Blood Pressure Monitoring and Accessories</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,100</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,616</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,716</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:19.8pt;text-indent:-19.8pt'>Total</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>12,791</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,788</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>22,579</p> </td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt'> </p>
Global 2Q 2019 revenues (USD) by product category: <p style='margin:0in;margin-bottom:.0001pt'> </p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='border-collapse:collapse'> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Domestic</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Outside US</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Total</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Obstetrics</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,038</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>194</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,232</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Gynecology/Electrosurgery/Urology</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,229</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,534</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,763</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Neonatal</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,149</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>287</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,436</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Blood Pressure Monitoring and Accessories</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,580</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>835</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,415</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:19.8pt;text-indent:-19.8pt'>Total</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,996</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,850</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>11,846</p> </td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>Global 1H 2019 revenues (USD) by product category:</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="90%" style='border-collapse:collapse'> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Domestic</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Outside US</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Total</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Obstetrics</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,064</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>507</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,571</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Gynecology/Electrosurgery/Urology</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,307</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,038</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>12,345</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Neonatal</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,320</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>627</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,947</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Blood Pressure Monitoring and Accessories</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,100</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,616</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,716</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:19.8pt;text-indent:-19.8pt'>Total</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>12,791</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,788</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>22,579</p> </td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt'> </p>
1038000
194000
1232000
3229000
3534000
6763000
1149000
287000
1436000
1580000
835000
2415000
6996000
4850000
11846000
2064000
507000
2571000
5307000
7038000
12345000
2320000
627000
2947000
3100000
1616000
4716000
12791000
9788000
22579000
<p style='margin:0in;margin-bottom:.0001pt'>(7)  Leases</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>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 12 years and on the automobile it is 30 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.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr style='height:23.85pt'> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt;height:23.85pt'> <p style='margin:0in;margin-bottom:.0001pt'>The components of lease cost were as follows:</p> </td> <td width="150" valign="top" style='width:112.5pt;padding:0in 5.4pt 0in 5.4pt;height:23.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>Three Months Ended June 30, 2019</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating Lease Cost (<i>in thousands</i>)</p> </td> <td width="150" valign="top" style='width:112.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$16</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Right of Use Assets obtained in exchange for new operating lease obligations</p> </td> <td width="150" valign="top" style='width:112.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$0</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="150" valign="top" style='width:112.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other Information</p> </td> <td width="150" valign="top" style='width:112.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>Three Months Ended June 30, 2019</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Weighted Average Remaining Lease Term  - Operating Leases</p> </td> <td width="150" valign="top" style='width:112.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>12 years</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Weighted Average Discount Rate – Operating Leases</p> </td> <td width="150" valign="top" style='width:112.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5.4%</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;margin-bottom:10.0pt;line-height:115%'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr style='height:23.85pt'> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt;height:23.85pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease liabilities/ payments (<i>in thousands</i>)</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt;height:23.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease payments, 2019</p> </td> <td width="96" valign="top" style='width:1.0in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$30</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease payments, 2020</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$60</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease payments, 2021</p> </td> <td width="96" valign="top" style='width:1.0in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$60</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease payments, 2022</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$45</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease payments, 2023</p> </td> <td width="96" valign="top" style='width:1.0in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$45</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Thereafter</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$344</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;margin-bottom:10.0pt;line-height:115%'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr style='height:23.85pt'> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt;height:23.85pt'> <p style='margin:0in;margin-bottom:.0001pt'>Reconciliation of operating lease liabilities/ payments to operating lease liabilities</p> </td> <td width="132" valign="top" style='width:99.0pt;padding:0in 5.4pt 0in 5.4pt;height:23.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> (<i>in thousands</i>)</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Total operating lease liabilities/ payments</p> </td> <td width="132" valign="top" style='width:99.0pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$584</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease liabilities – current (included in Accrued Expenses)</p> </td> <td width="132" valign="top" style='width:99.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$38</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease liabilities – long term</p> </td> <td width="132" valign="top" style='width:99.0pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><u>$395</u></p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Present value adjustment</p> </td> <td width="132" valign="top" style='width:99.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$151</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;margin-bottom:10.0pt;line-height:115%'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-bottom:10.0pt;line-height:115%'><b>Maturities of lease liabilities were as follows:</b></p> <p style='margin:0in;margin-bottom:.0001pt;margin-bottom:10.0pt;line-height:115%'>(<i>in thousands</i>) </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Maturities of lease liabilities were as follows:</p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(<i>in thousands</i>)</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Year ending December 31,</p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>2019</p> </td> <td width="120" valign="top" style='width:1.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$37</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>2020</p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$38</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>2021</p> </td> <td width="120" valign="top" style='width:1.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$40</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>2022</p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$27</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>2023</p> </td> <td width="120" valign="top" style='width:1.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$29</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Thereafter</p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$280</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p>
P12Y
P30M
<p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr style='height:23.85pt'> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt;height:23.85pt'> <p style='margin:0in;margin-bottom:.0001pt'>The components of lease cost were as follows:</p> </td> <td width="150" valign="top" style='width:112.5pt;padding:0in 5.4pt 0in 5.4pt;height:23.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>Three Months Ended June 30, 2019</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating Lease Cost (<i>in thousands</i>)</p> </td> <td width="150" valign="top" style='width:112.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$16</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Right of Use Assets obtained in exchange for new operating lease obligations</p> </td> <td width="150" valign="top" style='width:112.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$0</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="150" valign="top" style='width:112.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Other Information</p> </td> <td width="150" valign="top" style='width:112.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>Three Months Ended June 30, 2019</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Weighted Average Remaining Lease Term  - Operating Leases</p> </td> <td width="150" valign="top" style='width:112.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>12 years</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Weighted Average Discount Rate – Operating Leases</p> </td> <td width="150" valign="top" style='width:112.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5.4%</p> </td> </tr> </table>
16000
0
P12Y
0.0540
<table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr style='height:23.85pt'> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt;height:23.85pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease liabilities/ payments (<i>in thousands</i>)</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt;height:23.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease payments, 2019</p> </td> <td width="96" valign="top" style='width:1.0in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$30</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease payments, 2020</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$60</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease payments, 2021</p> </td> <td width="96" valign="top" style='width:1.0in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$60</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease payments, 2022</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$45</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease payments, 2023</p> </td> <td width="96" valign="top" style='width:1.0in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$45</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Thereafter</p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$344</p> </td> </tr> </table>
30000
60000
60000
45000
45000
344000
<p style='margin:0in;margin-bottom:.0001pt;margin-bottom:10.0pt;line-height:115%'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr style='height:23.85pt'> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt;height:23.85pt'> <p style='margin:0in;margin-bottom:.0001pt'>Reconciliation of operating lease liabilities/ payments to operating lease liabilities</p> </td> <td width="132" valign="top" style='width:99.0pt;padding:0in 5.4pt 0in 5.4pt;height:23.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> (<i>in thousands</i>)</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Total operating lease liabilities/ payments</p> </td> <td width="132" valign="top" style='width:99.0pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$584</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease liabilities – current (included in Accrued Expenses)</p> </td> <td width="132" valign="top" style='width:99.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$38</p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Operating lease liabilities – long term</p> </td> <td width="132" valign="top" style='width:99.0pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><u>$395</u></p> </td> </tr> <tr align="left"> <td width="415" valign="top" style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Present value adjustment</p> </td> <td width="132" valign="top" style='width:99.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$151</p> </td> </tr> </table>
584000
38000
395000
151000
<table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Maturities of lease liabilities were as follows:</p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(<i>in thousands</i>)</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Year ending December 31,</p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>2019</p> </td> <td width="120" valign="top" style='width:1.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$37</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>2020</p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$38</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>2021</p> </td> <td width="120" valign="top" style='width:1.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$40</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>2022</p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$27</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>2023</p> </td> <td width="120" valign="top" style='width:1.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$29</p> </td> </tr> <tr align="left"> <td width="319" valign="top" style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Thereafter</p> </td> <td width="120" valign="top" style='width:1.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$280</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p>
37000
38000
40000
27000
29000
280000
<p style='margin:0in;margin-bottom:.0001pt'>(8)  Distribution Agreement Purchase. UTMD completed the purchase of distribution rights for the FILSHIE Clip System from CooperSurgical, Inc. (CSI) on February 1, 2019, after which CSI will no longer sell the FILSHIE Clip System and UTMD will distribute the FILSHIE Clip System directly to clinical facilities in the U.S. The $21,000 purchase price represents an identifiable intangible asset which will be straight-line amortized and recognized as part of G&A expenses over the 4.75 year remaining life of the prior CSI distribution agreement with Femcare.  As part of the agreement, UTMD also purchased the remaining CSI inventory for approximately $2,100.</p>
21000000
4.75
<p style='margin:0in;margin-bottom:.0001pt'>(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 at the end of 2<sup>nd</sup> quarter 2019.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="176" colspan="3" valign="top" style='width:131.75pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Three months ended</p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="204" colspan="3" valign="top" style='width:153.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Six months ended</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="176" colspan="3" valign="top" style='width:131.75pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>June 30,</p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="204" colspan="3" valign="top" style='width:153.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>June 30,</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="71" style='width:53.45pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2019</p> </td> <td width="20" valign="top" style='width:15.3pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="84" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2018</p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="96" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2019</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="90" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2018</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>Numerator</b></p> </td> <td width="71" valign="top" style='width:53.45pt;border:none;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="20" valign="top" style='width:15.3pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="84" valign="top" style='width:63.0pt;border:none;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="24" valign="top" style='width:.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="90" valign="top" style='width:67.5pt;border:none;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> </tr> <tr style='height:11.2pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net income</p> </td> <td width="71" style='width:53.45pt;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,525</p> </td> <td width="20" valign="top" style='width:15.3pt;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,308</p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,664</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>8,400</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="71" valign="top" style='width:53.45pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="20" valign="top" style='width:15.3pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="84" valign="top" style='width:63.0pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="24" valign="top" style='width:.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="90" valign="top" style='width:67.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> </tr> <tr style='height:12.0pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>Denominator</b></p> </td> <td width="71" valign="top" style='width:53.45pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="20" valign="top" style='width:15.3pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="84" valign="top" style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="90" valign="top" style='width:67.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'>Weighted average shares, basic</p> </td> <td width="71" style='width:53.45pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,721</p> </td> <td width="20" valign="top" style='width:15.3pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,731</p> </td> <td width="24" valign="top" style='width:.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,721</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,728</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'>Dilutive effect of stock options</p> </td> <td width="71" style='width:53.45pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>14</p> </td> <td width="20" valign="top" style='width:15.3pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>23</p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>16</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>23</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'>Diluted shares</p> </td> <td width="71" style='width:53.45pt;border:none;border-bottom:double windowtext 1.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,735</p> </td> <td width="20" valign="top" style='width:15.3pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;border:none;border-bottom:double windowtext 1.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,754</p> </td> <td width="24" valign="top" style='width:.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;border:none;border-bottom:double windowtext 1.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,737</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,751</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="71" style='width:53.45pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="20" valign="top" style='width:15.3pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'>Earnings per share, basic</p> </td> <td width="71" style='width:53.45pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>.95</p> </td> <td width="20" valign="top" style='width:15.3pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1.15</p> </td> <td width="24" valign="top" style='width:.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1.79</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2.25</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'>Earnings per share, diluted</p> </td> <td width="71" style='width:53.45pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>.94</p> </td> <td width="20" valign="top" style='width:15.3pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1.15</p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1.78</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2.24</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p>
The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share: <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="176" colspan="3" valign="top" style='width:131.75pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Three months ended</p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="204" colspan="3" valign="top" style='width:153.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Six months ended</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="176" colspan="3" valign="top" style='width:131.75pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>June 30,</p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="204" colspan="3" valign="top" style='width:153.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>June 30,</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="71" style='width:53.45pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2019</p> </td> <td width="20" valign="top" style='width:15.3pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="84" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2018</p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="96" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2019</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="90" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>2018</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>Numerator</b></p> </td> <td width="71" valign="top" style='width:53.45pt;border:none;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="20" valign="top" style='width:15.3pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="84" valign="top" style='width:63.0pt;border:none;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="24" valign="top" style='width:.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;border:none;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="90" valign="top" style='width:67.5pt;border:none;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> </tr> <tr style='height:11.2pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net income</p> </td> <td width="71" style='width:53.45pt;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,525</p> </td> <td width="20" valign="top" style='width:15.3pt;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,308</p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,664</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;padding:0in 5.4pt 0in 5.4pt;height:11.2pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>8,400</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="71" valign="top" style='width:53.45pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="20" valign="top" style='width:15.3pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="84" valign="top" style='width:63.0pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="24" valign="top" style='width:.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="90" valign="top" style='width:67.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> </tr> <tr style='height:12.0pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'><b>Denominator</b></p> </td> <td width="71" valign="top" style='width:53.45pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="20" valign="top" style='width:15.3pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="84" valign="top" style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="90" valign="top" style='width:67.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'>Weighted average shares, basic</p> </td> <td width="71" style='width:53.45pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,721</p> </td> <td width="20" valign="top" style='width:15.3pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,731</p> </td> <td width="24" valign="top" style='width:.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,721</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,728</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'>Dilutive effect of stock options</p> </td> <td width="71" style='width:53.45pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>14</p> </td> <td width="20" valign="top" style='width:15.3pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>23</p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>16</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>23</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'>Diluted shares</p> </td> <td width="71" style='width:53.45pt;border:none;border-bottom:double windowtext 1.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,735</p> </td> <td width="20" valign="top" style='width:15.3pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;border:none;border-bottom:double windowtext 1.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,754</p> </td> <td width="24" valign="top" style='width:.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;border:none;border-bottom:double windowtext 1.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,737</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;border:none;border-bottom:double windowtext 1.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,751</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="71" style='width:53.45pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="20" valign="top" style='width:15.3pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'>Earnings per share, basic</p> </td> <td width="71" style='width:53.45pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>.95</p> </td> <td width="20" valign="top" style='width:15.3pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1.15</p> </td> <td width="24" valign="top" style='width:.25in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1.79</p> </td> <td width="18" valign="top" style='width:13.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;background:#CCEEFF;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2.25</p> </td> </tr> <tr style='height:12.5pt'> <td width="168" valign="top" style='width:125.65pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p style='margin:0in;margin-bottom:.0001pt'>Earnings per share, diluted</p> </td> <td width="71" style='width:53.45pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>.94</p> </td> <td width="20" valign="top" style='width:15.3pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="84" style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1.15</p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="96" style='width:1.0in;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1.78</p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="90" style='width:67.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.5pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2.24</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p>
3525000
4308000
6664000
8400000
3721000
3731000
3721000
3728000
14000
23000
16000
23000
3735000
3754000
3737000
3751000
0.95
1.15
1.79
2.25
0.94
1.15
1.78
2.24
<p style='margin:0in;margin-bottom:.0001pt'>(10) Subsequent Events.  UTMD has evaluated subsequent events through the date the financial statements were issued, and concluded there were no other events or transactions during this period that required recognition or disclosure in its financial statements.</p>
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