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10-Q
2018-03-31
false
UTAH MEDICAL PRODUCTS INC
0000706698
utmd
--12-31
3730538
242289134
Accelerated Filer
Yes
No
No
2018
Q1
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'>(1) The unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and note disclosures required by accounting principles generally accepted in the United States.  These statements should be read in conjunction with the financial statements and notes included in the Utah Medical Products, Inc. ("UTMD" or "the Company") annual report on Form 10-K for the year ended December 31, 2017.  In the opinion of management, the accompanying financial statements include all adjustments (consisting only of normal recurring adjustments) necessary to summarize fairly the Company's financial position and results of operations.  Currency amounts are in thousands except per-share amounts and where noted.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'>(2) Recent Accounting Standards.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>Recent Accounting Standards.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>In May 2014, new accounting guidance (ASU 2014-09) was issued that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. UTMD adopted this new standard on January 1, 2018, using a modified retrospective approach. In accordance with ASU 2014-09, UTMD’s revenue recognition is based on standard terms & conditions of sale for like customers in addition to contracts and the performance obligations identified in them. With very insignificant and limited exceptions, the Company’s performance obligation is met when it ships a physical product to a customer. The basis on which UTMD recognizes revenue was updated on January 1, 2018, but it did not result in a change to the process and timing of revenue recognition, because the previous revenue recognition method complies with ASU 2014-09.  Therefore, the adoption of ASU 2014-09 did not have an impact on UTMD’s financial statements.  In accordance with this adoption, disaggregated revenue is presented in Note 7.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>In February 2016, new accounting guidance was issued which requires recording most leases on the balance sheet. The new lease standard requires disclosure of key information about lease arrangements and aligns many of the underlying principles of this new model with those in the new revenue recognition standard noted above. This guidance becomes effective for annual reporting periods beginning after December 15, 2018, with early adoption permitted. UTMD has yet to assess the impact that this standard will have on its consolidated financial statements when it is adopted. The only significant lease the Company anticipates it will have at that time is for the parking lot at its Utah facility. </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Topic 825-10), which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments.  Subsequently, in February 2018, the FASB issued ASU No. 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Topic 825-10), which clarifies certain aspects of ASU 2016-01 over certain aspects of recognition, measurement, presentation and disclosure of financial instruments. UTMD adopted ASU 2016-01 and 2018-03 effective January 1, 2018, and this guidance did not have a material impact on the UTMD’s financial statements.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'>(3) Inventories at March 31, 2018 and December 31, 2017 consisted of the following:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="192" valign="top" style='width:2.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="144" valign="top" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>March 31, 2018</p> </td> <td width="11" valign="top" style='width:8.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31, 2017</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Finished goods</p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="144" valign="top" style='width:1.5in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,467</p> </td> <td width="11" valign="top" style='width:8.5pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,313</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Work-in-process</p> </td> <td width="9" valign="top" style='width:6.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="144" valign="top" style='width:1.5in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,385</p> </td> <td width="11" valign="top" style='width:8.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="135" valign="top" style='width:101.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,270</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Raw materials</p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="144" valign="top" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,706</p> </td> <td width="11" valign="top" style='width:8.5pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,661</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Total</p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="144" valign="top" style='width:1.5in;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,558</p> </td> <td width="11" valign="top" style='width:8.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,244</p> </td> </tr> </table>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'>(4) Stock-Based Compensation. At March 31, 2018, the Company has stock-based employee compensation plans which authorize the grant of stock options to eligible employees and directors.  The Company accounts for stock compensation under FASB Accounting Standards Codification (“ASC”) 718, <i>Compensation - Stock Compensation</i>.  This statement requires the Company to recognize compensation cost based on the grant date fair value of options granted to employees and directors.  In the quarters ended March 31, 2018 and 2017, the Company recognized  $30 and $36, respectively, in stock-based compensation cost.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'>(5) Warranty Reserve.   The Company’s published warranty is: “UTMD warrants its products to conform in all material respects to all published product specifications in effect on the date of shipment, and to be free from defects in material and workmanship for a period of thirty (30) days for supplies, or twenty-four (24) months for equipment, from date of shipment.  During the warranty period UTMD shall, at its option, replace any products shown to UTMD's reasonable satisfaction to be defective at no expense to the Purchaser or refund the purchase price.” </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>UTMD maintains a warranty reserve to provide for estimated costs which are likely to occur. The amount of this reserve is adjusted, as required, to reflect its actual experience. Based on its analysis of historical warranty claims and its estimate that existing warranty obligations were immaterial, no warranty reserve was made at December 31, 2017 or March 31, 2018.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-bottom:6.0pt'>(6) Fair Value Measurements. The Company follows ASC 820, <i>Fair Value Measurement</i> to determine fair value of its financial assets.  The following table provides financial assets carried at fair value measured as of March 31, 2018:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="96" valign="top" style='width:1.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="8" valign="top" style='border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Fair Value Measurements Using</p> </td> </tr> <tr align="left"> <td width="96" valign="bottom" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Description</p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="bottom" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Total Fair Value</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>at 3/31/2018</p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="115" valign="bottom" style='width:1.2in;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> Quoted Prices</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>in Active Markets</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>for Identical Assets</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>(Level 1) </p> </td> <td width="12" valign="top" style='width:8.65pt;border:none;border-top:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="115" valign="bottom" style='width:1.2in;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> Significant Other</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Observable Inputs</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>(Level 2) </p> </td> <td width="12" valign="top" style='width:8.65pt;border:none;border-top:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="115" valign="bottom" style='width:1.2in;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Significant</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Unobservable Inputs</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>(Level 3 ) </p> </td> </tr> <tr align="left"> <td width="96" valign="top" style='width:1.0in;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Equities </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="96" valign="top" style='width:1.0in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>72</p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="115" valign="top" style='width:1.2in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>72</p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="115" valign="top" style='width:1.2in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="115" valign="top" style='width:1.2in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> </tr> </table>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'>(7)  Global revenues (USD) by product category:</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Domestic</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Outside US</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Total</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Obstetrics</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>877</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>209</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,086</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Gynecology/Electrosurgery/Urology</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,293</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,908</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,201</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Neonatal</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>965</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>745</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,710</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Blood Pressure Monitoring and Accessories</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,119</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>771</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,890</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:19.8pt;text-indent:-19.8pt'>Total</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,254</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,633</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>10,887</p> </td> </tr> </table>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'> (8) Subsequent Events. UTMD has evaluated subsequent events through the date the financial statements were issued, and concluded there were no other events or transactions during this period that required recognition or disclosure in its financial statements.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'>Recent Accounting Standards.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>In May 2014, new accounting guidance (ASU 2014-09) was issued that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. UTMD adopted this new standard on January 1, 2018, using a modified retrospective approach. In accordance with ASU 2014-09, UTMD’s revenue recognition is based on standard terms & conditions of sale for like customers in addition to contracts and the performance obligations identified in them. With very insignificant and limited exceptions, the Company’s performance obligation is met when it ships a physical product to a customer. The basis on which UTMD recognizes revenue was updated on January 1, 2018, but it did not result in a change to the process and timing of revenue recognition, because the previous revenue recognition method complies with ASU 2014-09.  Therefore, the adoption of ASU 2014-09 did not have an impact on UTMD’s financial statements.  In accordance with this adoption, disaggregated revenue is presented in Note 7.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>In February 2016, new accounting guidance was issued which requires recording most leases on the balance sheet. The new lease standard requires disclosure of key information about lease arrangements and aligns many of the underlying principles of this new model with those in the new revenue recognition standard noted above. This guidance becomes effective for annual reporting periods beginning after December 15, 2018, with early adoption permitted. UTMD has yet to assess the impact that this standard will have on its consolidated financial statements when it is adopted. The only significant lease the Company anticipates it will have at that time is for the parking lot at its Utah facility. </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'>In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Topic 825-10), which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments.  Subsequently, in February 2018, the FASB issued ASU No. 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Topic 825-10), which clarifies certain aspects of ASU 2016-01 over certain aspects of recognition, measurement, presentation and disclosure of financial instruments. UTMD adopted ASU 2016-01 and 2018-03 effective January 1, 2018, and this guidance did not have a material impact on the UTMD’s financial statements.</p>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="192" valign="top" style='width:2.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="144" valign="top" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>March 31, 2018</p> </td> <td width="11" valign="top" style='width:8.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>December 31, 2017</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Finished goods</p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="144" valign="top" style='width:1.5in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,467</p> </td> <td width="11" valign="top" style='width:8.5pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,313</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Work-in-process</p> </td> <td width="9" valign="top" style='width:6.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="144" valign="top" style='width:1.5in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,385</p> </td> <td width="11" valign="top" style='width:8.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="135" valign="top" style='width:101.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,270</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Raw materials</p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="144" valign="top" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,706</p> </td> <td width="11" valign="top" style='width:8.5pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;border-bottom:solid windowtext 1.0pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,661</p> </td> </tr> <tr align="left"> <td width="192" valign="top" style='width:2.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Total</p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="144" valign="top" style='width:1.5in;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,558</p> </td> <td width="11" valign="top" style='width:8.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="135" valign="top" style='width:101.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,244</p> </td> </tr> </table>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="96" valign="top" style='width:1.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="top" style='width:1.0in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="8" valign="top" style='border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Fair Value Measurements Using</p> </td> </tr> <tr align="left"> <td width="96" valign="bottom" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Description</p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="96" valign="bottom" style='width:1.0in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Total Fair Value</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>at 3/31/2018</p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="115" valign="bottom" style='width:1.2in;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> Quoted Prices</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>in Active Markets</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>for Identical Assets</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>(Level 1) </p> </td> <td width="12" valign="top" style='width:8.65pt;border:none;border-top:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="115" valign="bottom" style='width:1.2in;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> Significant Other</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Observable Inputs</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>(Level 2) </p> </td> <td width="12" valign="top" style='width:8.65pt;border:none;border-top:solid windowtext 1.0pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="115" valign="bottom" style='width:1.2in;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Significant</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Unobservable Inputs</p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>(Level 3 ) </p> </td> </tr> <tr align="left"> <td width="96" valign="top" style='width:1.0in;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Equities </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="96" valign="top" style='width:1.0in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>72</p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="115" valign="top" style='width:1.2in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>72</p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="115" valign="top" style='width:1.2in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="9" valign="top" style='width:6.5pt;border:none;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="115" valign="top" style='width:1.2in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> </tr> </table>
<!--egx--><p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Domestic</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Outside US</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="72" valign="top" style='width:.75in;border:none;border-bottom:solid windowtext 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>Total</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Obstetrics</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;border:none;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>877</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>209</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,086</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Gynecology/Electrosurgery/Urology</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,293</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,908</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,201</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Neonatal</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>965</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>745</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,710</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Blood Pressure Monitoring and Accessories</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,119</p> </td> <td width="31" valign="top" style='width:23.05pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>771</p> </td> <td width="37" valign="top" style='width:28.1pt;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="72" valign="top" style='width:.75in;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,890</p> </td> </tr> <tr align="left"> <td width="240" valign="top" style='width:2.5in;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:19.8pt;text-indent:-19.8pt'>Total</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,254</p> </td> <td width="31" valign="top" style='width:23.05pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,633</p> </td> <td width="37" valign="top" style='width:28.1pt;background:#CCEEFF;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="12" valign="top" style='width:8.65pt;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$</p> </td> <td width="72" valign="top" style='width:.75in;background:#CCEEFF;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>10,887</p> </td> </tr> </table>
1467000
1313000
1385000
1270000
2706000
2661000
5558000
5244000
30000
36000
72000
72000
0
0
877000
209000
1086000
2293000
3908000
6201000
965000
745000
1710000
1119000
771000
1890000
5254000
5633000
10887000
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2017-12-31
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2018-05-07
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2018-03-31
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2018-01-01
2018-03-31
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