Retractable Technologies Q2 net sales $8.0M, operating loss $5.0M vs $14.3M sales and $2.1M loss last year

RETRACTABLE TECHNOLOGIES INC

2023-Q2 EPS reported -$0.10 revenue$18,972,382

Q2 net sales $8.0M, down 44% from $14.3M; operating loss $5.0M vs $2.1M loss in prior year.
First half 2023 net revenues $19.0M; operating loss $7.8M vs $59.1M revenue and $7.7M income in 2022.
Decline largely due to lower COVID-19 vaccination-related sales, including no sales to U.S. government.
Company increased sales/marketing expenses by 39% in H1 2023 to boost future revenues; also invested in U.S. government-backed mutual funds.
Unrealized loss on debt/equity securities of $6.3M in Q2, partially offset by $4.8M gain on sales.

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