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United-Guardian Q2 profit falls YOY

United-Guardian, Inc. said its normalized net income for the second quarter was 8 cents per share, a decline of 73.0% from 30 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $369,490, a decline of 73.0% from $1.4 million in the prior-year period.

The normalized profit margin fell to 17.3% from 33.2% in the year-earlier period.

Total revenue declined 48.1% on an annual basis to $2.1 million from $4.1 million, and total operating expenses fell 18.6% on an annual basis to $1.6 million from $2.0 million.

Reported net income fell 73.2% on an annual basis to $405,380, or 9 cents per share, from $1.5 million, or 33 cents per share.