Retractable Technologies Q3 2024 operating loss of $5.1M widens from $936K; tariffs and lawsuit pending

RETRACTABLE TECHNOLOGIES INC

2024-Q3 EPS reported -$0.53 revenue$23,975,584

Net sales $10.3M flat YoY; operating loss of $5.1M vs $936K loss last year.
Gross profit margin fell from 41.8% to -0.1% on lower avg selling price, declining intl sales, higher production costs.
New 100% tariff on Chinese syringes effective Sept 2024; expects $1.5M in tariff costs through Feb 2025.
Sued U.S. Trade Representative over tariffs; injunctions partially denied, company subject to tariffs during case.
Net loss $15.7M for 9 months includes $8.4M deferred tax asset valuation allowance; uncertain future profitability.

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