United-Guardian Reports 1st Quarter Increase in Sales - Seite 2

RESULTS FOR THE QUARTERS ENDED
MARCH 31, 2020 and MARCH 31, 2019*

STATEMENTS OF INCOME
(UNAUDITED)

			THREE MONTHS ENDED MARCH 31,
				2020			2019
	Net Sales		$	3,322,914		$	3,180,318
	Costs and expenses:
	Cost of sales			1,389,331			1,288,345
	Operating expenses			515,275			546,962
	Research and development			107,732			98,659
	Total costs and expenses			2,012,338			1,933,966
	Income from operations			1,310,576			1,246,352
	Other (expense) income:
	Investment income			44,067			44,167
	Net (loss) gain on marketable securities			(356,595	)		257,194
	Total other (expense) income			(312,528	)		301,361
	Income before provision for income taxes			998,048			1,547,713
	Provision for income taxes			207,741			325,019
	Net income		$	790,307		$	1,222,694
	Earnings per common share (basic and diluted)		$	0.17		$	0.27
	Weighted average shares – basic and diluted			4,594,319			4,594,319

_* Additional financial information can be found at the company’s web site at www.u-g.com.