Utah Medical Products Posts Financial Results for Q3 2017

Utah Medical Products (NASDAQ:UTMD) released their financial report for the third quarter of 2017.
As quoted in the press release:

In contrast to prior calendar quarters, UTMD’s relative 3Q performance was enhanced by a weaker USD. Because the initial large impact of BREXIT on the value of the GBP occurred in late 2Q 2016, the change in relative value of the USD to the GBP in 3Q 2017 compared to 3Q 2016 was minimal. Revenues in 3Q 2017 would have been $71 lower using the same foreign currency exchange (FX) rates as in the prior year (“constant dollars”), but because of the effect of BREXIT in first half (1H) 2017 compared to 1H 2016, revenues in 9M 2017 would have been $235 higher in constant dollars. UTMD’s FX rates for income statement purposes are transaction-weighted averages. The average rates from the applicable foreign currency to USD during 3Q 2017 and 9M 2017 compared to the same periods in 2016 follow:

3Q 17	3Q 16	Change	9M 17	9M 16	Change
GBP	1.312	1.314	(0.1%)	1.277	1.393	(8.3%)
EUR	1.172	1.118	+ 4.8%	1.116	1.116	–
AUD	0.789	0.759	+ 4.0%	0.766	0.744	+ 3.0%

UTMD’s revenues invoiced in the above foreign currencies represented 27.3% of total consolidated USD sales in 3Q 2017 and 24.9% in 9M 2017.

Click here to read the full press release.

Source: www.marketwired.com