Retractable Technologies 2022 revenue drops 49.7% to $94.8M; net income falls to $5.1M

RETRACTABLE TECHNOLOGIES INC

2023-Q1 EPS reported $0.03 revenue$11,001,102

Revenue $94.8M, down 49.7% YoY; domestic sales fell 68.8%, international up 105%.
Net income $5.1M ($0.15 EPS) vs $56.1M ($1.65 EPS) in 2021; operating loss $853k.
Total operating expenses rose 27.9%, driven by accelerated stock option expense.
Spent $7.6M repurchasing 3.6M shares; workforce reductions target $3.8M annual savings.
Preferred stock dividends declared: Series II $39,050 and Series III $19,061.25 for Q1 2023, payable Apr 20.

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