RETRACTABLE TECHNOLOGIES INC. overview

Retractable Technologies, Inc. (NYSE American: RVP) reports total net sales of $8.0 million for the second quarter of 2023 and an operating loss of $5.0 million for the second quarter, as compared to total net sales for the same quarter last year of $14.3 million and an operating loss of $2.1 million. For the first half of the year, 2023 net revenues were $19.0 million and operating losses were $7.8 million as compared to 2022 net revenues of $59.1 million and operating income of $7.7 million....

Retractable Technologies, Inc. (“Retractable”) (NYSE American: RVP) announced today that its Board of Directors has declared dividends to holders of its Series II Class B and Series III Class B Convertible Preferred Stock in the amounts of $39,050.00 and $19,061.25, respectively. Dividends have accrued at $1.00 per share per annum. The dividends cover the period beginning April 1, 2023 through June 30, 2023. The dividends will be paid on July 20, 2023 to shareholders of record as of the...

Retractable Technologies, Inc. (NYSE American: RVP) reports total net sales of $11.0 million for the first three months of 2023 and an operating loss of $2.7 million for the period, as compared to total net sales for the same period last year of $44.7 million and an operating income of $9.7 million. The differences in the revenues and operating income or loss are largely due to the lack of syringe sales to the U.S. government for COVID-19 vaccination efforts. In the first quarter of 2023,...

Retractable Technologies, Inc. (“Retractable”) (NYSE American: RVP) announced today that its Board of Directors has declared dividends to holders of its Series II Class B and Series III Class B Convertible Preferred Stock in the amounts of $39,050.00 and $19,061.25, respectively. Dividends have accrued at $1.00 per share per annum. The dividends cover the period beginning January 1, 2023 through March 31, 2023. The dividends will be paid on April 20, 2023 to shareholders of record as of the...

Retractable Technologies, Inc. (NYSE American: RVP) reports the following information relating to the year ended December 31, 2022. Further details concerning the results of operations as well as other matters are available in Retractable’s Form 10-K filed on March 30, 2023 with the U.S. Securities and Exchange Commission. Our revenues for 2022 decreased 49.7% as sales to the U.S. government for COVID-19 vaccinations wound down in the first quarter of 2022, although international...

Retractable Technologies, Inc. (NYSE American: RVP) reports that it has reduced its workforce by approximately 22%. The reduction is due to the decreased need for domestic production and production support personnel. The staff reduction primarily affects the Company’s production, operations, and logistics departments. The reduction will result in an overall annualized savings of approximately $1.7 million, or 13% in annualized payroll expense, offset by separation costs which are expected to...

Retractable Technologies, Inc. (NYSE American: RVP) announces today that it has agreed to repurchase three million shares of its common stock in a private transaction with BML Investment Partners, L.P. Braden M. Leonard, on behalf of the selling shareholder, approached the Company with an offer to sell a block of shares prior to year-end. The Company accepted, determining it would be advantageous to buy a large block of shares in one transaction, especially given the stock’s low price. The...

Retractable Technologies, Inc. (“Retractable”) (NYSE American: RVP) announced today that its Board of Directors has declared dividends to holders of its Series II Class B and Series III Class B Convertible Preferred Stock in the amounts of $39,050.00 and $19,061.25, respectively. Dividends have accrued at $1.00 per share per annum. The dividends cover the period beginning October 1, 2022 through December 31, 2022. The dividends will be paid on January 20, 2023 to shareholders of record as of...