Elite Pharmaceuticals' Stock Up Despite Q2 Earnings Decline [Yahoo! Finance]
Elite Pharmaceuticals, Inc. (ELTP)
NASDAQ:AMEX Investor Relations:
ir.elitepharma.com
Company Research
Source: Yahoo! Finance
the S&P 500 index's decline of 2% during the same period. Over the past month, Elite Pharmaceuticals' stock plunged 8.5%, contrasting with a modest 0.6% gain for the S&P 500. Elite Pharmaceuticals reported revenues of $18.9 million for the three months ended Sept. 30, 2024, marking a 33.4% year-over-year increase. This robust growth was primarily driven by the Elite label product line. For the six months, revenues reached $37.7 million, a 62.9% rise from the previous year. Gross profit for the quarter improved to $8.2 million from $6.4 million, reflecting a 27.1% year-over-year growth. The gross profit margin was 43% during the three months ended Sept. 30, 2024, compared with 46% during the comparable period of the prior fiscal year. The decrease is due to increased labor costs resulting from manufacturing personnel overtime hours incurred to ensure the production and supply of products in response to increased demand. The gross profit for the six-month period was $16.7 million,
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ELTP
Sec Filings
- 11/18/24 - Form 8-K
- 11/14/24 - Form 8-K
- 11/14/24 - Form 10-Q
- ELTP's page on the SEC website