[SALT LAKE CITY, UT - (NewMediaWire) - July 30, 2019 - In the second calendar quarter (2Q) and first half (1H) of 2019, Utah Medical Products, Inc. (Nasdaq: UTMD) attained results which reflect that the Company remains on target to achieve its financial goals for year 2019 despite the apparent negative comparison with 2Q and 1H 2018 results.\xa0, , NewMediaWire, , Currencies in this release are denoted as $ or USD = U.S. Dollars; AUD = Australia Dollars; \xa3 or GBP = UK Pound Sterling; C$ or CAD = Canadian Dollars; and \u20ac or EUR = Euros. Currency amounts throughout this report are in thousands, except per share amounts and where noted.\xa0, Summary of Financial ResultsIn USD terms, changes in 2Q and 1H 2019 consolidated income statement results compared to the same time periods in the prior calendar year were as follows:, Summary of Financial Results, , \xa02Q(April \u2013 June)1H(January \u2013 June)Sales:+ \xa08%+ 3%Gross Profit:+\xa0 7%+ 3%Operating Income:(11%)(14%)Net Income:(18%)(21%)Earnings Per Share:(18%)(20%), \xa02Q(April \u2013 June)1H(January \u2013 June)Sales:+ \xa08%+ 3%Gross Profit:+\xa0 7%+ 3%Operating Income:(11%)(14%)Net Income:(18%)(21%)Earnings Per Share:(18%)(20%), \xa02Q(April \u2013 June)1H(January \u2013 June), \xa0, 2Q(April \u2013 June), , (April \u2013 June), 1H(January \u2013 June), , (January \u2013 June), Sales:+ \xa08%+ 3%, Sales:, + \xa08%, + 3%, Gross Profit:+\xa0 7%+ 3%, Gross Profit:, +\xa0 7%, + 3%, Operating Income:(11%)(14%), Operating Income:, (11%), (14%), Net Income:(18%)(21%), Net Income:, (18%), (21%), Earnings Per Share:(18%)(20%), Earnings Per Share:, (18%), (20%), Financial results in 2Q 2019 continued to be hampered on the top line by a stronger USD, on the operating income line by the new intangible asset amortization expense from UTMD\u2019s February 2019\xa0 Filshie Clip System (Filshie device) U.S. exclusive distribution rights acquisition, and on the bottom line by a higher consolidated income tax provision rate than in 2018. \xa0Net income was also lower because UTMD had realized $450 in non-operating income from one-time sales of unneeded assets in 2Q 2018 which did not repeat in 2Q 2019., Because 29% of 1H 2019 consolidated sales were in foreign currencies, the volatility of foreign currency exchange (FX) rates for sales and expenses outside the U.S. (OUS) continued to have an impact on period-to-period relative financial results. FX rates for income statement purposes are transaction-weighted averages. The average rates from the applicable foreign currency to USD during 2Q 2019 and 1H 2019 compared to the same periods in 2018 follow:, \xa02Q 192Q 18Change1H 191H 18ChangeGBP1.2851.359(5.4%)1.2951.375(5.9%)EUR1.1251.192(5.6%)1.1291.209(6.6%)AUD0.7010.756\xa0 \xa0(7.3%)0.7070.771\xa0 (8.4%)CAD0.7480.775(3.5%)0.7500.783(4.1%), \xa02Q 192Q 18Change1H 191H 18ChangeGBP1.2851.359(5.4%)1.2951.375(5.9%)EUR1.1251.192(5.6%)1.1291.209(6.6%)AUD0.7010.756\xa0 \xa0(7.3%)0.7070.771\xa0 (8.4%)CAD0.7480.775(3.5%)0.7500.783(4.1%), \xa02Q 192Q 18Change1H 191H 18Change, \xa0, 2Q 19, 2Q 19, 2Q 18, 2Q 18, Change, Change, 1H 19, 1H 19, 1H 18, 1H 18, Change, Change, GBP1.2851.359(5.4%)1.2951.375(5.9%), GBP, 1.285, 1.359, (5.4%), 1.295, 1.375, (5.9%), EUR1.1251.192(5.6%)1.1291.209(6.6%), EUR, 1.125, 1.192, (5.6%), 1.129, 1.209, (6.6%), AUD0.7010.756\xa0 \xa0(7.3%)0.7070.771\xa0 (8.4%), AUD, 0.701, 0.756, \xa0 \xa0(7.3%), 0.707, 0.771, \xa0 (8.4%), CAD0.7480.775(3.5%)0.7500.783(4.1%), CAD, 0.748, 0.775, (3.5%), 0.750, 0.783, (4.1%), UTMD\u2019s revenues invoiced in the above foreign currencies represented 28.6% of total consolidated USD sales in 2Q 2019 and 29.2% in 1H 2019. The weighted average negative impact on all foreign currency sales from the change in FX rates was 5.6% in 2Q 2019 and 6.1% in 1H 2019, reducing reported USD sales in 2Q 2019 by $194 relative to the same FX rates in 2Q 2018 and by $431 in 1H 2019 relative to the same FX rates in 1H 2018.\xa0 In constant currency terms, i.e. using the same FX rates as in the applicable periods in 2018, total consolidated 2Q 2019 ...

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