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Utah Medical Products Inc. posts rise in net income

SHARE Utah Medical Products Inc. posts rise in net income

Salt Lake-based Utah Medical Products Inc. on Tuesday reported net income of $1.48 million, or 29 cents per share, for the quarter ended June 30. That compares with net income of $1.38 million, or 22 cents per share, for the same period a year ago.

The company said record profit margins and fewer outstanding shares had an impact on the results. The company has had 14 consecutive quarters with earnings-per-share growth when compared to the prior-year periods.

For the first six months of the year, the company had net income of $2.87 million, or 56 cents per share, up from net income of $2.6 million, or 41 cents per share, for the prior-year period.

The company develops, manufactures, assembles and markets disposable and reusable specialty medical devices.

The company's stock was trading at $11.85 early Tuesday, up 55 cents from Monday's close. In the past year, the price has ranged from $6 to $12.40.