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Stock impact report

Retractable Technologies, Inc. Results for the Periods Ended September 30, 2024 [Yahoo! Finance]

Retractable Technologies, Inc. (RVP) 
NASDAQ:AMEX Investor Relations: retractable.com/investor_relations
Company Research Source: Yahoo! Finance
for the third quarter of 2024 and an operating loss of $5.1 million for the period, as compared to total net sales for the same period last year of $10.3 million and an operating loss of $936 thousand. For the first nine months of the year, net sales were $24.0 million and operating losses were $13.9 million as compared to 2023 net revenues of $29.3 million and operating losses of $8.7 million. The decline in gross profit in the third quarter of 2024 was primarily due to a decrease in the average selling price, a drop in international sales, and rising production costs. The decline in international sales had a material impact on lower net revenues in the nine-month period ended September 30, 2024. In September 2024, a new 100% tariff on syringes and needles imported from China became effective. No tariffs were incurred during the periods ended September 30, 2024. However, to date, the Company has incurred $568 thousand in tariff expenses and, due to existing orders from the Company' Show less Read more
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