Retractable Technologies Inc (RVP, Financial) filed Quarterly Report for the period ended 2012-09-30.
Retractable Technologies, Inc. has a market cap of $29.8 million; its shares were traded at around $1.07 with and P/S ratio of 0.9. Retractable Technologies, Inc. had an annual average earning growth of 1.6% over the past 10 years.
Domestic sales accounted for 75.8% and 96.2% of the revenues for the three months ended September 30, 2012 and 2011, respectively. Domestic revenues decreased 10.0% principally due to lower average selling prices mitigated by higher sales volumes. Domestic unit sales increased 5.9%. Domestic unit sales were 64.8% of total unit sales for the three months ended September 30, 2012. International revenues increased from $314 thousand in 2011 to $2.3 million in 2012, primarily due to increased sales volume. Overall unit sales increased 54.7%.
Gross profit decreased 1.1% primarily due to lower average sales prices mitigated by lower average unit cost of manufacture. The cost of manufactured product increased by 26.4% due to higher volume mitigated by lower unit cost. Gross profit as a percentage of net sales was 35.5% in the three months ended September 30, 2012 as compared to 41.0% in 2011 due to lower average selling prices. Profit margins can fluctuate depending upon, among other things, the cost of manufactured product and the capitalized cost of product recorded in inventory, as well as product sales mix. Royalty expense increased 14.9% due to higher gross sales.
Domestic sales accounted for 77.9% and 81.3% of the revenues for the nine months ended September 30, 2012 and 2011, respectively. Domestic revenues decreased 5.6% principally due to lower sales volumes and lower average sales prices. Domestic unit sales decreased 4.2%. Domestic unit sales were 65.4% of total unit sales for the nine months ended September 30, 2012. International revenues increased from $4.9 million in 2011 to $5.7 million in 2012 primarily due to increased sales volumes. Overall unit sales increased 4.0%.
Gross profit decreased 3.0% primarily due to lower average sales prices. The average cost of manufactured product sold per unit decreased by 4.3%. Gross profit as a percentage of net sales was 37.2% in the nine months ended September 30, 2012 as compared to 37.8% in 2011 due to lower average sales price mitigated by higher sales volumes. Profit margins can fluctuate depending upon, among other things, the cost of manufactured product and the capitalized cost of product recorded in inventory, as well as product sales mix. Royalty expense decreased 2.0% due to lower gross sales.
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Retractable Technologies, Inc. has a market cap of $29.8 million; its shares were traded at around $1.07 with and P/S ratio of 0.9. Retractable Technologies, Inc. had an annual average earning growth of 1.6% over the past 10 years.
Highlight of Business Operations:
Product purchases from Double Dove, a Chinese manufacturer, have enabled us to increase manufacturing capacity with little capital outlay and have provided a competitive manufacturing cost. In the nine months ended September 30, 2012, Double Dove manufactured approximately 69.6% of the units we produced. We believe we could make up any long-term disruption in these purchases by utilizing more of the capacity at the Little Elm facility, except for the 0.5mL insulin syringe, the 2mL, 5mL and 10mL syringes, and the autodisable syringe which altogether comprised about 8.2% of our revenues for the nine months ended September 30, 2012.Domestic sales accounted for 75.8% and 96.2% of the revenues for the three months ended September 30, 2012 and 2011, respectively. Domestic revenues decreased 10.0% principally due to lower average selling prices mitigated by higher sales volumes. Domestic unit sales increased 5.9%. Domestic unit sales were 64.8% of total unit sales for the three months ended September 30, 2012. International revenues increased from $314 thousand in 2011 to $2.3 million in 2012, primarily due to increased sales volume. Overall unit sales increased 54.7%.
Gross profit decreased 1.1% primarily due to lower average sales prices mitigated by lower average unit cost of manufacture. The cost of manufactured product increased by 26.4% due to higher volume mitigated by lower unit cost. Gross profit as a percentage of net sales was 35.5% in the three months ended September 30, 2012 as compared to 41.0% in 2011 due to lower average selling prices. Profit margins can fluctuate depending upon, among other things, the cost of manufactured product and the capitalized cost of product recorded in inventory, as well as product sales mix. Royalty expense increased 14.9% due to higher gross sales.
Domestic sales accounted for 77.9% and 81.3% of the revenues for the nine months ended September 30, 2012 and 2011, respectively. Domestic revenues decreased 5.6% principally due to lower sales volumes and lower average sales prices. Domestic unit sales decreased 4.2%. Domestic unit sales were 65.4% of total unit sales for the nine months ended September 30, 2012. International revenues increased from $4.9 million in 2011 to $5.7 million in 2012 primarily due to increased sales volumes. Overall unit sales increased 4.0%.
Gross profit decreased 3.0% primarily due to lower average sales prices. The average cost of manufactured product sold per unit decreased by 4.3%. Gross profit as a percentage of net sales was 37.2% in the nine months ended September 30, 2012 as compared to 37.8% in 2011 due to lower average sales price mitigated by higher sales volumes. Profit margins can fluctuate depending upon, among other things, the cost of manufactured product and the capitalized cost of product recorded in inventory, as well as product sales mix. Royalty expense decreased 2.0% due to lower gross sales.
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