Utah Medical Products Inc. announced third-quarter net earnings of $1.28 million, or 16 cents per share, a 67 percent increase over the $771,689 reported for the same period last year.

Net earnings for the nine-month period were $2.99 million, or 38 cents per share, up 77 percent over the $1.69 million, or 22 cents per share, recorded for the same period last year.Sales for the third quarter were $6.46 million, an increase of 40 percent from the $4.63 million reported for the third quarter of 1989. For the first nine months, sales were $16.82 million, up 35 percent.

"We are on target for our goal of 30 percent growth in revenues and are exceeding our 30 percent target in earnings for 1990," said Wm. Dean Wallace, president.