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UTAH MEDICAL PRODUCTS , INC . G 7043 South 300 West Midvale , Utah 84047 Telephone : 801-566-1200 FAX : 801-566-7305 Nasdaq Symbol : UTMD www.utahmed.com PRESS RELEASE UTMD Reports Financial Performance for Second Calendar Quarter and First Half 2021 July 22 , 2021 Contact : Crystal Rios ( 801 ) 566-1200 Salt Lake City , Utah - The second calendar quarter ( 2Q ) of 2021 financial results were dramatically different from 2Q 2020 because 2Q 2020 results were the low point of Utah Medical Products , Inc.'s ( Nasdaq : UTMD ) performance during the COVID - 19 pandemic , during a time when there were restrictions on so - called nonessential medical procedures . Therefore , UTMD management reports quarterly income statement results compared to the same periods not only in 2021 compared to 2020 , but also compared to 2019. The Company's stated objective in 2021 has been to try to fully recover back to its 2019 financial performance . Please see the income statements for all three years on the last page . = Currencies in this release are denoted as $ or USD = U.S. Dollars ; AUD = Australia Dollars ; £ or GBP = UK Pound Sterling ; C $ or CAD Canadian Dollars ; and € or EUR = Euros . Currency amounts throughout this report are in thousands , except per share amounts and where noted . Overview of Results The following summary comparison of 2Q and first half ( 1H ) 2021 with 2Q and 1H 2020 income statement measures demonstrates UTMD's excellent recovery , despite many new challenges : 2Q ( April - June ) 1H ( January - June ) Revenues ( Sales ) : + 43 % + 20 % Gross Profit ( GP ) : + 57 % + 25 % Operating Income ( OI ) : + 141 % + 48 % Income Before Tax ( EBT ) : + 144 % + 46 % Net Income ( NI ) : + 161 % + 45 % Earnings Per Share ( EPS ) : + 161 % + 46 % The above increases in NI and EPS according to U.S. Generally Accepted Accounting Principles ( US GAAP ) were affected by long term deferred tax liability ( DTL ) increases on the balance of Femcare identifiable intangible assets ( IIA ) in both 2Q 2020 and 2Q 2021. As stockholders may remember , the DTL was initiated as of the 2011 acquisition of Femcare because the expense from amortizing Femcare IIA , most of which is occurring over a fifteen year time span from the acquisition date , is not tax- deductible in the UK . According to US GAAP , the future tax impact of a change in DTL must be recognized in the quarter in which a tax law change is enacted . In 2Q 2020 , a $ 225 increase in deferred UK taxes over the next six years occurred because the UK decided to not reduce its corporate income tax rate from 19 % to 17 % beginning in 2Q 2020 , as was previously enacted . This year in 2Q 2021 , another $ 390 increase in DTL over the remaining five years occurred because in June 2021 , UK