<SEC-DOCUMENT>0001096906-13-001481.txt : 20140115
<SEC-HEADER>0001096906-13-001481.hdr.sgml : 20140115
<ACCEPTANCE-DATETIME>20130913183058
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001096906-13-001481
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20130913

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UTAH MEDICAL PRODUCTS INC
		CENTRAL INDEX KEY:			0000706698
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				870342734
		STATE OF INCORPORATION:			UT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		7043 S 300 WEST
		CITY:			MIDVALE
		STATE:			UT
		ZIP:			84047
		BUSINESS PHONE:		8015661200
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<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">September 13, 2013</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Martin James, Senior Assistant Chief Accountant</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Division of Corporation Finance</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Washington, D.C. 20549-0306</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dear Mr. James:</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Thank you for your review of Utah Medical Products, Inc.&#8217;s (UTMD&#8217;s) Annual Report on Form 10-K.&#160;&#160;This is UTMD&#8217;s response to the SEC comment letter dated August 30, 2013, which will also be filed on EDGAR as private correspondence with the SEC.&#160;&#160;For ease of reference, I have incorporated the SEC comments in italics followed by UTMD&#8217;s responses.</font></div>

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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Form 10-K for the Fiscal Year Ended December 31, 2012</font></font></div>
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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Item 8. Financial Statements and Supplementary Data</font></font></div>
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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Report of Independent Registered Public Accounting Firm, page 30</font></font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">1.</font></div>
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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Please have your auditor, Jones Simkins LLC, explain to us how it concluded that it was your principal auditor given the significance of the assets audited by the Norton Practice. We note that the assets of Femcare Group Limited represent 65.7% of your total assets as of 12/31/12 and 65.3% of your total assets as on 12/31/11. Please refer to Rule 2-05 of Regulation S-X and PCAOB AU Sections 543 and 9543.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Jones Simkins LLC response to Comment 1.</font></font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Jones Simkins LLC referred to Rule 2-05 of Regulation S-X and PCAOB AU Sections 543 and 9543 in reaching the conclusion that it is UTMD&#8217;s principal auditor. The revenues that it audited in 2012 and 2011 were 60.3% and 64.9%, respectively, of consolidated revenue. Femcare intangible assets as a result of the acquisition were $42,624,000 at 12/31/12 and $43,240,000 at 12/31/11.&#160;&#160;Excluding acquired intangible assets, Femcare&#8217;s assets were 10.3% of consolidated total assets at 12/31/12, and 8.7% at 12/31/11. Other considerations were that Jones Simkins audited the acquired intangible assets in 2011 and satisfied itself regarding the reasonableness of those intangibles in 2012, that it audited the home (corporate) office, which is located in the U.S., that it coordinated all of the audit work, and that it audited UTMD&#8217;s consolidation and the consolidated financial statements including disclosures and principal operations. Furthermore, UTMD&#8217;s fully-integrated accounting system is domiciled and controlled by personnel in the U.S.</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2.</font></div>
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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, please clearly describe to us the specific nature of the assets audited by The Norton Practice.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">At December 31, 2012, The Norton Practice audited current operational assets of Femcare Group Limited of $7,402,000, net property and equipment of $482,000, and acquired intangibles of $42,624,000.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Note 11 &#8211; Geographical Sales Information, page 48</font></font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">3.</font></div>
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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Please disclose in future filings the basis for attributing revenues from external customers to individual countries and, if revenues from external customers attributed to an individual foreign country are material, please disclose those revenues separately. Refer to FASB ASC 280-10-50-41(a).</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">UTMD will disclose in future filings the basis for attributing revenues from external customers to individual countries, and separately disclose revenue to individual countries where that revenue is material, as set forth in FASB ASC 280-10-50-41(a).</font></div>

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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Please disclose in future filings geographic information about your long-lived assets, as required by FASB ASC 280-10-50-41(b).</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Unless UTMD is mistaken, geographic long-lived assets disclosure required by FASB ASC 280-10-50-41(b) was provided in Note 5 &#8211; Property and Equipment. UTMD&#8217;s understanding is that intangible assets are not included in long-lived assets. If Note 5 is not adequate, please provide further notice.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Note 12 &#8211; Revenues by Product Category, page 48</font></font></div>

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<div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We note that you do not provide any segment disclosures and that you have products in four different categories. Please tell us about the company&#8217;s analysis under FASB ASC 280-10-50 in determining the company&#8217;s reportable segments.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">UTMD does not account for, nor make available internally, separate operating or financial results in the four product categories in which it discusses sales trends. Accordingly, the characteristics required by 280-10-50-1 (b) and (c) do not exist and segment reporting is not possible.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In responding to our comments, please provide a written statement from the company acknowledging that:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and</font></div>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
