US Market News
2 months ago
Retractable Technologies, Inc. Results for the Period Ended March 31, 2026May 15, 2026 4:19 PM
Business Wire Retractable Technologies, Inc. (NYSE American: RVP) reports total net sales of $7.2 million for the first three months of 2026 and an operating loss of $6.2 million for the period, as compared to total net sales for the same period last year of $8.3 million and an operating loss of $4.7 million. In the first quarter of 2026, a larger proportion of international sales and an increase in EasyPoint® needle sales contributed to lower overall revenues despite unit sales increasing slightly. In the first three months of 2026, we spent less than $12 thousand on tariff expenses, a large decrease compared to prior periods. The decrease is attributable to ongoing mitigation efforts, including strategic sourcing decisions and increased domestic production. We produced 39% of our products domestically in the first quarter of 2026. In the first quarter of 2026, operating expenses increased 14% or $655 thousand. However, approximately $900 thousand of our operating expenses in the first quarter 2026 are attributable to non-recurring consulting expenses and charitable product donations. In April 2026, the Company reduced its workforce by approximately 16%. The reduction is expected to save an estimated $2.2 million in annual wages and employment benefits, or approximately 13% of total estimated workforce costs. The expected savings are offset by one-time separation payments of approximately $122 thousand to the affected workers. For the three months ended March 31, 2026, our net loss was $4.2 million. Retractable reports the following results of operations for the three months ended March 31, 2026 and 2025, respectively. Further details concerning the results of operations, as well as other matters, are available in Retractable’s Form 10-Q filed on May 15, 2026 with the U.S Securities and Exchange Commission. Comparison of Three Months Ended March 31, 2026 and March 31, 2025 Domestic sales accounted for 82.9% and 89.6% of total revenues for the three months ended March 31, 2026 and 2025, respectively. Domestic revenues decreased 20.0%, while domestic unit sales decreased 11.5%. Domestic unit sales represented 72.1% of total unit sales for the three months ended March 31, 2026 compared to 84.9% for the same period last year. The decrease in sales was not proportional to the decrease in unit sales, primarily due to a decrease in average selling price, which was due to change in product mix and higher transaction costs associated with distributor agreements. International revenues for the three months ended March 31, 2026 increased 42.4% compared to the same period in 2025. The increase in international sales was primarily driven by increase in EasyPoint® needle sales. Traditionally, international sales carry lower average selling prices compared to our domestic sales. There remains uncertainty regarding the timing of future international orders. Overall, units sales increased 3.6%. Cost of manufactured product decreased 3.1% compared to the same period last year primarily due to a decrease in freight and tariff expense. Royalty expense decreased 7.0% due to the decrease in gross sales. Tariffs may continue to materially impact our costs in future periods. Approximately $11.6 thousand was spent on tariff expenses in the first quarter of 2026. The reduction in tariff costs compared to prior periods is attributable to ongoing mitigation efforts, including strategic sourcing decisions and increased domestic production. These costs are included in Cost of manufactured product. Operating expenses increased 14.0% primarily due to increased donation expense. The loss from operations was $6.2 million compared to a loss of approximately $4.7 million for the same period last year. The increase in loss from operations was primarily driven by negative gross margin for the period and higher donation expense. The unrealized gain on debt and equity securities was $192 thousand for the three month period ended March 31, 2026 due to the increased market values of those securities. In contrast, there was a material unrealized loss on debt and equity securities of $7.2 million for the three month period ended March 31, 2025. The provision for income taxes was $1.8 thousand as compared to a benefit for income taxes of $286 thousand for the same period in 2025. The change is primarily due to a decrease in net loss in the current period. ABOUT RETRACTABLE Retractable manufactures and markets VanishPoint® and Patient Safe® safety medical products and the EasyPoint® needle. The VanishPoint® syringe, blood collection, and IV catheter products are designed to prevent needlestick injuries and product reuse by retracting the needle directly from the patient, effectively reducing exposure to the contaminated needle. Patient Safe® syringes are uniquely designed to reduce the risk of bloodstream infections resulting from catheter hub contamination. The EasyPoint® is a retractable needle that can be used with luer lock syringes, luer slip syringes, and prefilled syringes to give injections. The EasyPoint® needle also can be used to aspirate fluids and for blood collection. Retractable's products are distributed by various specialty and general line distributors. For more information on Retractable, visit its website at www.retractable.com. Forward-looking statements in this press release are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and reflect Retractable's current views with respect to future events. Retractable believes that the expectations reflected in such forward-looking statements are accurate. However, Retractable cannot assure you that such expectations will materialize. Actual future performance could differ materially from such statements. Factors that could cause or contribute to such differences include, but are not limited to: tariffs; oil prices; material changes in demand; Retractable's ability to maintain liquidity; Retractable's maintenance of patent protection; Retractable's ability to maintain favorable third party manufacturing and supplier arrangements and relationships; foreign trade risk; Retractable's ability to access the market; production costs; the impact of larger market players in providing devices to the safety market; and other risks and uncertainties that are detailed from time to time in Retractable's periodic reports filed with the U.S. Securities and Exchange Commission. View source version on businesswire.com: https://www.businesswire.com/news/home/20260515900824/en/ Retractable Technologies, Inc.
John W. Fort III, 888-806-2626 or 972-294-1010
Vice President, Chief Financial Officer, and Chief Accounting Officer Original: Retractable Technologies, Inc. Results for the Period Ended March 31, 2026
US Market News
3 months ago
Retractable Technologies, Inc. Announces Workforce ReductionApril 9, 2026 5:46 PM
Business Wire
Retractable Technologies, Inc. (NYSE American: RVP) reports that it has reduced its workforce by approximately 16%. The reduction is expected to save an estimated $2.2 million in annual wages and employment benefits, or approximately 13% of total estimated workforce costs. The expected savings are offset by estimated one-time separation payments of approximately $122 thousand to the affected workers. Approximately 58% of the targeted payroll reduction affects manufacturing or manufacturing support positions and the remainder of the reductions affects sales and sales support roles.
The move comes as the Company continues to strengthen its domestic production capabilities and increase manufacturing efficiencies, reducing its reliance on importing products from its contract manufacturers in China. While contract manufacturers in China have historically produced most of the products the Company sells, the financial impact of tariffs on imports from China has caused the Company to increase its domestic production where practical in order to mitigate the cost of importing. While the increase in domestic manufacturing lessens the negative financial impact of tariffs, the Company is still reliant on Chinese imports for products we are unable to produce with our current manufacturing equipment.
ABOUT RETRACTABLE
Retractable manufactures and markets VanishPoint® and Patient Safe® safety medical products and the EasyPoint® needle. The VanishPoint® syringe, blood collection, and IV catheter products are designed to prevent needlestick injuries and product reuse by retracting the needle directly from the patient, effectively reducing exposure to the contaminated needle. Patient Safe® syringes are uniquely designed to reduce the risk of bloodstream infections resulting from catheter hub contamination. The EasyPoint® is a retractable needle that can be used with luer lock syringes, luer slip syringes, and prefilled syringes to give injections. The EasyPoint® needle also can be used to aspirate fluids and for blood collection. Retractable's products are distributed by various specialty and general line distributors.
For more information on Retractable, visit its website at www.retractable.com.
Forward-looking statements in this press release are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and reflect Retractable's current views with respect to future events. Retractable believes that the expectations reflected in such forward-looking statements are accurate. However, Retractable cannot assure you that such expectations will materialize. Actual future performance could differ materially from such statements.
Factors that could cause or contribute to such differences include, but are not limited to: tariffs; material changes in demand; Retractable's ability to maintain liquidity; Retractable's maintenance of patent protection; Retractable's ability to maintain favorable third party manufacturing and supplier arrangements and relationships; foreign trade risk; Retractable's ability to access the market; production costs; the impact of larger market players in providing devices to the safety market; and other risks and uncertainties that are detailed from time to time in Retractable's periodic reports filed with the U.S. Securities and Exchange Commission.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260409327428/en/
Retractable Technologies, Inc.
John W. Fort III, 888-806-2626 or 972-294-1010
Vice President, Chief Financial Officer, and Chief Accounting Officer
Original: Retractable Technologies, Inc. Announces Workforce Reduction
US Market News
3 months ago
Retractable Technologies, Inc. Reports Results for 2025March 27, 2026 5:04 PM
Business Wire
Retractable Technologies, Inc. (NYSE American: RVP) reports the following information relating to the year ended December 31, 2025. Further details concerning the results of operations as well as other matters are available in Retractable’s Form 10-K filed on March 27, 2026 with the U.S. Securities and Exchange Commission.
The Company’s revenues for 2025 increased 15.8%. The Company’s revenues were approximately $38.3 million in 2025 as compared to approximately $33.0 million in the prior year. Domestic revenues increased 9.7% principally due to an increase in VanishPoint® and EasyPoint® needle sales. International revenues increased 64.0% predominantly due to higher EasyPoint® needle sales. Comparability of 2025 to 2020-2023 financial results is challenging due to the unusual volume of pandemic sales in those years.
The Company’s operating costs remain high since its facility expansion and, more recently, an increase in domestic production in connection with 2024-2026 tariffs. Total operating expenses were $21.2 million in 2025. The 2025 loss from operations was $21.2 million as compared to a loss from operations of $21.1 million in the prior year.
The net decrease in cash for 2025 was $1.6 million. At the end of 2025, the Company’s cash position was $2.6 million, and the Company held $34.4 million in debt and equity securities.
Approximately $1.8 million was incurred in tariff expense in 2025. The Company obtained 62.6% of its products from manufacturers in China. As of March 9, 2026, the prevailing tariff rate on most syringe and needle products imported from China was 120%. As foreign trade policy continues to evolve, uncertainty as to future tariff rates remains. Management expects that tariffs will continue to have a material impact on the Company’s operations and financial position.
ABOUT RETRACTABLE
Retractable manufactures and markets VanishPoint® and Patient Safe® safety medical products and the EasyPoint® needle. The VanishPoint® syringe, blood collection, and IV catheter products are designed to prevent needlestick injuries and product reuse by retracting the needle directly from the patient, effectively reducing exposure to the contaminated needle. Patient Safe® syringes are uniquely designed to reduce the risk of bloodstream infections resulting from catheter hub contamination. The EasyPoint® is a retractable needle that can be used with luer lock syringes, luer slip syringes, and prefilled syringes to give injections. The EasyPoint® needle also can be used to aspirate fluids and for blood collection. Retractable's products are distributed by various specialty and general line distributors.
For more information on Retractable, visit its website at www.retractable.com.
Forward-looking statements in this press release are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and reflect Retractable's current views with respect to future events. Retractable believes that the expectations reflected in such forward-looking statements are accurate. However, Retractable cannot assure you that such expectations will materialize. Actual future performance could differ materially from such statements.
Factors that could cause or contribute to such differences include, but are not limited to: tariffs; material changes in demand; Retractable's ability to maintain liquidity; Retractable's maintenance of patent protection; Retractable's ability to maintain favorable third party manufacturing and supplier arrangements and relationships; foreign trade risk; Retractable's ability to access the market; production costs; the impact of larger market players in providing devices to the safety market; and other risks and uncertainties that are detailed from time to time in Retractable's periodic reports filed with the U.S. Securities and Exchange Commission.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260327375836/en/
Retractable Technologies, Inc.
John W. Fort III, 888-806-2626 or 972-294-1010
Vice President, Chief Financial Officer, and Chief Accounting Officer
Original: Retractable Technologies, Inc. Reports Results for 2025
US Market News
3 months ago
Retractable Technologies, Inc. Declares Dividends to Series II and III Class B Preferred Stock ShareholdersMarch 27, 2026 4:59 PM
Business Wire
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 $18,561.25, respectively. Dividends have accrued at $1.00 per share per annum. The dividends cover the period beginning January 1, 2026 through March 31, 2026. The dividends will be paid on April 20, 2026 to shareholders of record as of the close of business on April 10, 2026.
Retractable manufactures and markets VanishPoint® and Patient Safe® safety medical products and the EasyPoint® needle. The VanishPoint® syringe, blood collection, and IV catheter products are designed to prevent needlestick injuries and product reuse by retracting the needle directly from the patient, effectively reducing exposure to the contaminated needle. Patient Safe® syringes are uniquely designed to reduce the risk of bloodstream infections resulting from catheter hub contamination. The EasyPoint® is a retractable needle that can be used with luer lock syringes, luer slip syringes, and prefilled syringes to give injections. The EasyPoint® needle also can be used to aspirate fluids and for blood collection. Retractable's products are distributed by various specialty and general line distributors.
For more information on Retractable, visit its website at www.retractable.com.
Forward-looking statements in this press release are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and reflect Retractable's current views with respect to future events. Retractable believes that the expectations reflected in such forward-looking statements are accurate. However, Retractable cannot assure you that such expectations will materialize. Actual future performance could differ materially from such statements.
Factors that could cause or contribute to such differences include, but are not limited to: tariffs; material changes in demand; Retractable's ability to maintain liquidity; Retractable's maintenance of patent protection; Retractable's ability to maintain favorable third party manufacturing and supplier arrangements and relationships; foreign trade risk; Retractable's ability to access the market; production costs; the impact of larger market players in providing devices to the safety market; and other risks and uncertainties that are detailed from time to time in Retractable's periodic reports filed with the U.S. Securities and Exchange Commission.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260327148725/en/
Retractable Technologies, Inc.
John W. Fort III, 888-806-2626 or 972-294-1010
Vice President, Chief Financial Officer, and Chief Accounting Officer
Original: Retractable Technologies, Inc. Declares Dividends to Series II and III Class B Preferred Stock Shareholders
JJSeabrook
5 years ago
"Effective May 12, 2021 Retractable Technologies, Inc. entered into an amendment to the Technology Investment Agreement (originally awarded on July 1, 2020) with the U.S. Government providing for $27,365,232 in additional funding. The amendment calls for an increase in existing domestic manufacturing capabilities by a minimum of 50% in order to meet ongoing and future U.S. COVID-19 medical countermeasures demands. In order to satisfy this new objective, Retractable is directed to increase U.S. production of 1mL low dead space safety syringes by installing new assembly lines and further expanding a portion of its facilities in Little Elm, Texas. The scheduled end date for the modification effort is January 31, 2022."
stock1ace1
5 years ago
Rvp earnings out looking good Source: Business Wire
Retractable Technologies, Inc. (NYSE American: RVP) reports that its operating income was $23.4 million in the first quarter of 2021, compared to operating income for the same period last year of $481 thousand. In comparison, the annual operating income for the prior two years was $24.1 million in 2020 and $3.0 million in 2019. During the first quarter of 2021, sales to the U.S. government were $37.8 million, representing 75.5% of the $50.1 million in first quarter revenues.
Additionally, Retractable disclosed in its Form 10-Q filed on May 17, 2021 that its promissory note pursuant to the Paycheck Protection Program was recently forgiven for the entire original principal amount of $1,363,000.
Retractable also reports the following results of operations for the three months ended March 31, 2021 and March 31, 2020, respectively.
JJSeabrook
5 years ago
Locke Lord LLP and Roy Hardin
v. Retractable Technologies, Inc.
We have set the above cause for submission in the Court of Appeals, Fifth District of Texas at Dallas, via Zoom Web Conferencing on April 7, 2021 at 10:00 AM. The Clerk will send the Zoom Meeting ID and Password as a calendar invite in a separate email. Do not share the Zoom Meeting ID/Password to limit potential security and technical issues. The oral argument will be broadcast live to the Court’s YouTube Channel youtube.com/channel/UCPCfut.... The panel hearing the case will consist of Justice Schenck, Justice Reichek and Justice Carlyle, subject to change by the Court.
Here's a direct link to the hearing itself:
JJSeabrook
5 years ago
SOME 10-K HIGHLIGHTS:
EPS for 2020 = $0.80 per share. EPS for 2019 was $0.07.
Net income for 2020=$24,223,013. Net income for 2019=$3,148,234
Revs in 2019 were $41,797,000. Revs for 2020 are $81,862,453
As of December 31, 2020, our production and deliveries materially met or exceeded contract requirements despite the significant increase in demand.
"As of March 2021, the Company has substantially completed construction of expanded facilities consisting of approximately 27,800 square feet of additional controlled environment within existing properties and is expected to complete approximately 55,000 square feet of new warehouse space within the second quarter of 2021."
The estimated cost of the controlled environment within existing properties is $6.4 million. The increase from the original $6 million estimate is due to change orders and an expedited completion date in order to receive certain manufacturing equipment at an earlier date. The new warehouse space is estimated to cost $5.8 million. The cost of the controlled environment will be funded by the U.S. government under the TIA, while the cost of the new warehouse will be funded by the Company.
Challenges from the Significant Orders
In 2020, the U.S. government was a significant customer representing 39.0% ($31.6 million) of our net sales. With additional 2021 deliveries under the HHS Order plus the new February 2021 contract from the U.S. government, the U.S. government will likely continue to be a materially significant customer in 2021. This presents unusual challenges to our business. Our 2021 performance under these orders will be somewhat dependent upon our timely completion of expansions to our facility and machinery, which we cannot guarantee will occur according to schedule. Moreover, in light of the government’s significant volume requirements, we may not be able to maintain our usual service levels to our existing customers. HOWEVER, DURING 2020, WE NOT ONLY FULFILLED OBLIGATIONS UNDER THE GOVERNMENT'S ORDER, BUT WE ALSO INCREASED DELIVERY VOLUMES TO EXISTING CUSTOMERS. (Right on schedule!)
As of March 9, 2021, we had 182 employees. 178 of such employees were full time employees. Here's from the 10-Q for Q3: "During the third quarter of 2020, we hired 15 new full-time employees, predominantly as production line workers, and terminated several back office employees. "
On November 7, 2019, the Company filed a lawsuit in the 44th District Court of Dallas County, Texas (No. DC-19-17946) against Locke Lord, LLP and Roy Hardin in connection with their legal representation of the Company in its previous litigation against Becton, Dickinson and Company (“BD”). The Company alleges that the defendants breached their fiduciary duties, committed malpractice, and were negligent in their representation of the Company. The Company seeks actual and exemplary damages, disgorgement, costs, and interest. On October 6, 2020, the Court dismissed Defendants’ motion to dismiss, which order was appealed by the Defendants on October 9, 2020 to the Court of Appeals, Fifth District of Texas at Dallas. ORAL ARGUMENT FOR THE APPEAL HAS BEEN SET FOR APRIL 7, 2021.
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