Utah Medical Products Inc. said third quarter revenues rose 84 percent to $3.47 million, up from $1.89 million a year earlier, the 11th consecutive quarter of increased sales.
Net income increased 110 percent to $378,644, up from $180,324. Earnings per share increased to 5 cents from 3 cents in 1987.Utah Medical President Wm. Dean Wallace said per share results for the latest quarter were based on an average of 7.53 million shares, up from 6.72 million a year earlier.
Revenues for the nine month period were $8.99 million, an increase of 71 percent over revenues of $5.25 million for the first nine months of 1987.
Net earnings for the nine-month period was $985,748 or 13 cents per share, vs. $457,734, or 7 cents per share, for the first nine months of 1987, an increase of 115 percent and representing a 19.3 percent return on average equity.
Per share results for the nine months of 1988 were based on an average of 7.51 million shares, up from 6.69 million shares in 1987.