United Orthopedic Corporation (UOC) announced its first-half financial results and July revenue performance. In the second quarter, exchange rate fluctuations and product mix impacted profitability, with both gross margin and operating margin declining by three percentage points from the prior quarter. Non-operating losses from foreign exchange further weighed on results, bringing quarterly net income after tax down to NT$46.57 million, or earnings per share (EPS) of NT$0.48. Cumulative EPS for the first half reached NT$2.46.
In July, consolidated revenue exceeded NT$500 million for the first time, hitting NT$530 million, a 27% increase year-over-year and an all-time monthly high. Cumulative revenue for January–July reached NT$3.178 billion, up 21% from last year, also setting a record high for the period. Growth was driven primarily by steady performance across UOC’s core markets in Asia-Pacific, Europe, and the Americas.
The company noted that expansion efforts in Europe and Asia-Pacific are increasingly reflected in revenue growth. In Europe, UOC operates direct sales subsidiaries in France, Switzerland, the U.K., and Belgium, while actively expanding into Southern and Eastern Europe through distribution networks. In Asia-Pacific, revenue in Taiwan has remained stable, while Japan has emerged as a key growth driver. As a super-aged society, Japan has a significant demand for joint replacement surgeries related to degenerative joint diseases, making it a market with strong future potential for UOC.
In the U.S.—the world’s largest orthopedic implant market—sales have continued on an upward trajectory despite short-term impacts from tariff adjustments. Given that the U.S. is a high-margin market, the additional costs from tariffs remain manageable. UOC expects to offset tariff-related impacts through sustained revenue growth and cost management.
The company is also actively driving new product launches in the U.S. This year, it anticipates FDA clearance for the Relifix modular revision femoral stem and the antioxidant highly cross-linked polyethylene press-fit patella implant under the U2 Knee System, which are expected to further strengthen its market presence.
Second-quarter revenue reached NT$1.35 billion, up sequentially, though gross margin and operating margin both declined by three percentage points to 76.3% and 11.57%, respectively. Operating profit was NT$156 million, down 18.9% quarter-on-quarter. Non-operating losses exceeded NT$90 million, largely from foreign exchange, resulting in net income after tax of NT$46.57 million and EPS of NT$0.48 for the quarter. For the first half, consolidated revenue rose 20% year-on-year to NT$2.647 billion, with net income after tax of NT$237 million and EPS of NT$2.46, surpassing last year’s NT$196 million and EPS of NT$2.04.
Resource: 聯合7月營收飆新高，上半年EPS 2.46元，日、美市場為成長引擎
