Retractable Technologies Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Retractable Technologies Inc. filed its Q1 2024 10-Q, detailing financial data and product segment performance.</b>

AI Summary

RETRACTABLE TECHNOLOGIES INC (RVP) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. The company filed a 10-Q report for the period ending March 31, 2024. Key financial statement data points from previous periods (2023-12-31, 2023-03-31, 2022-12-31) are referenced. Specific product categories like Syringes, Other Products, EasyPoint Needles, and Blood Collection Products are detailed. Geographic sales segments include US, North and South America (excluding US), and Other International (excluding North and South America). The filing references preferred stock, treasury stock, retained earnings, and additional paid-in capital.

Why It Matters

For investors and stakeholders tracking RETRACTABLE TECHNOLOGIES INC, this filing contains several important signals. This filing provides investors with the latest quarterly financial performance and operational details for Retractable Technologies Inc. The breakdown by product and geography offers insights into the company's revenue streams and market presence.

Risk Assessment

Risk Level: — RETRACTABLE TECHNOLOGIES INC shows moderate risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate red flags.

Analyst Insight

Review the detailed segment and geographic sales data to understand performance trends and identify growth areas.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (10-Q filing)
• 2024-05-15 — Filing Date (10-Q filing)

Key Players & Entities

• RETRACTABLE TECHNOLOGIES INC (company) — FILER
• RVP (company) — Ticker Symbol
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-15 (date) — FILED AS OF DATE
• Little Elm, TX (location) — BUSINESS ADDRESS
• 9722941010 (phone) — BUSINESS PHONE

FAQ

Industry Context

Retractable Technologies Inc. operates in the medical instruments and apparatus industry, focusing on safety-engineered medical devices.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosures from public companies.

What Investors Should Do

1. Analyze the revenue breakdown by product and geography for Q1 2024.
2. Compare current quarter data with historical data referenced in the filing.
3. Review any footnotes or additional disclosures within the full 10-Q document for further context.

Key Dates

• 2024-03-31: Quarter End Date — End of reporting period for the 10-Q.
• 2024-05-15: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing updated financial information compared to the previous year's filings.

Filing Documents

• tmb-20240331x10q.htm (10-Q) — 1043KB
• tmb-20240331xex31d1.htm (EX-31.1) — 14KB
• tmb-20240331xex31d2.htm (EX-31.2) — 14KB
• tmb-20240331xex32.htm (EX-32) — 8KB
• 0001558370-24-008277.txt (&nbsp;) — 5586KB
• tmb-20240331.xsd (EX-101.SCH) — 39KB
• tmb-20240331_cal.xml (EX-101.CAL) — 50KB
• tmb-20240331_def.xml (EX-101.DEF) — 153KB
• tmb-20240331_lab.xml (EX-101.LAB) — 335KB
• tmb-20240331_pre.xml (EX-101.PRE) — 243KB
• tmb-20240331x10q_htm.xml (XML) — 1074KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 CONDENSED BALANCE SHEETS 1 CONDENSED STATEMENTS OF OPERATIONS 2 CONDENSED STATEMENTS OF CASH FLOWS 3 CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY 4 NOTES TO CONDENSED FINANCIAL STATEMENTS 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 19

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 19 Item 5. Other Information 20 Item 6. Exhibits 20

SIGNATURES

SIGNATURES 20 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. RETRACTABLE TECHNOLOGIES, INC. CONDENSED BALANCE SHEETS (unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 10,011,162 $ 12,667,550 Accounts receivable, net 7,424,629 10,671,721 Investments in debt and equity securities, at fair value 36,630,439 34,621,213 Inventories 19,488,819 17,581,368 Income taxes receivable 1,155,077 1,155,077 Other current assets 1,004,218 952,668 Total current assets 75,714,344 77,649,597 Property, plant, and equipment, net 91,815,450 93,478,521 Deferred tax asset 8,308,139 8,392,030 Other assets 137,160 152,064 Total assets $ 175,975,093 $ 179,672,212 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 2,594,312 $ 4,779,035 Current portion of long-term debt 311,060 303,991 Accrued compensation 722,458 865,105 Dividends payable 1,417,437 1,417,437 Accrued royalties to shareholder 649,388 1,376,555 Other accrued liabilities 1,177,631 630,571 Income taxes payable 1,655 4,802 Total current liabilities 6,873,941 9,377,496 Other long-term liabilities 68,288,918 69,773,538 Long-term debt, net of current maturities 1,152,802 1,233,519 Total liabilities 76,315,661 80,384,553 Commitments and contingencies – see Note 10 Stockholders' equity: Preferred stock, $ 1 par value: Class B; authorized: 5,000,000 shares Series II, Class B 156,200 156,200 Series III, Class B 74,245 74,245 Common Stock, no par value — — Additional paid-in capital 73,160,333 73,160,333 Retained earnings 39,157,332 38,785,559 Common stock in treasury – at cost ( 12,888,678 ) ( 12,888,678 ) Total stockholders' equity 99,659,432 99,287,659 Total liabilities and stockholders' equity $ 175,975,093 $ 179,672,212 See accompanying notes to condensed unaudited financial statements 1 Table of Contents RETRACTABLE T

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View this 10-Q filing on SEC EDGAR