Utah Medical Products reported a 14.3% decline in second-quarter 2026 revenues to $8,529 thousand, driven by the loss of sales to its two previously largest customers. The combined sales to those two entities, which were zero in the second quarter of 2026, had been $1,066 thousand in the same period of 2025, accounting for 75% of the quarterly decline. Net income fell 11.9% to $2,686 thousand, or $0.844 per diluted share, as higher litigation expenses and lower gross profit offset a lower tax rate. For the first half of 2026, revenues decreased 12.3% to $17,252 thousand, and management now projects a full-year sales decline of 10% to 13% compared to 2025, citing slower-than-expected new product sales. The company maintained a strong balance sheet with no debt, ending the quarter with $87.5 million in cash and investments.
Utah Medical Products IncLoss of sales to two largest customers drove 14.3% revenue decline; full-year sales projected down 10-13%.
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