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Last $3.80 USD
Change Today -0.01 / -0.26%
Volume 12.5K
As of 8:04 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

retractable technologies inc (RVP) Key Developments

Retractable Technologies, Inc. Declares Dividends to Series I and II Class B Preferred Stock Shareholders, Payable on July 20, 2015

Retractable Technologies, Inc. announced that its board of directors has declared dividends to holders of its Series I Class B and Series II Class B Convertible Preferred Stock in the amounts of $12,312.50 and $44,050.00, respectively. The dividend amount is $0.125 per share for Series I Class B shareholders and $0.25 per share for Series II Class B shareholders. Dividends have accrued at 10% per annum and cover amounts in arrears from and including April 1, 2015 through date of conversion or June 30, 2015, whichever is applicable. The dividends will be paid on July 20, 2015 to shareholders of record as of the close of business on July 10, 2015.

Retractable Technologies, Inc. Announces Resignation of Steven R. Wisner as Executive Vice President, Engineering & Production and to its Board

On May 29, 2015, Steven R. Wisner resigned from the Board of Directors of Retractable Technologies, Inc. and from his officer position as Executive Vice President, Engineering & Production. His resignation was not a result of any disagreement.

Retractable Technologies, Inc. Reports Earning and Operating Results for the First Quarter Ended March 31, 2015

Retractable Technologies, Inc. reported the earning results for the three months ended March 31, 2015. Domestic sales accounted for 94.4% of the revenues for the three months ended March 31, 2015 against 82.0% of the revenues for the three months ended March 31, 2014. Domestic revenues increased 17.9% principally due to higher volumes from existing customers. International revenues decreased 68.4%. Its operating loss was $895,000 compared to an operating loss for the same period last year of $2.0 million due primarily to higher gross profit and reduced expenses. Approximately $556,000 in cash flow in the three months ended March 31, 2015 was provided by operating activities. The company also reported the operating results for the three months ended March 31, 2015. Domestic unit sales increased 13.4%. Domestic unit sales were 91.8% of total unit sales for the three months ended March 31, 2015. International unit sales decreased 60.8%. Its international orders may be subject to significant fluctuation over time. Overall unit sales decreased 1.8%.

Retractable Technologies, Inc. Declares Dividends to Series I and II Class B Preferred Stock Shareholders Payable on April 30, 2015

Retractable Technologies, Inc. announced that its board of directors has declared dividends to holders of its Series I Class B and Series II Class B convertible preferred stock in the amounts of $37,891.27 and $132,925.68, respectively. The dividend amount is $0.125 per share per quarter for Series I Class B shareholders and $0.25 per share per quarter for Series II Class B shareholders. Dividends have accrued at 10% per annum and cover amounts in arrears from June 30, 2014 through date of conversion or March 31, 2015, whichever is applicable. The dividends will be paid on April 30, 2015 to shareholders of record as of the close of business on April 20, 2015.

Retractable Technologies, Inc. Reports Earnings Results for the Three and Twelve Months Ended December 31, 2014

Retractable Technologies, Inc. reported earnings results for the three and twelve months ended December 31, 2014. For three months, the company’s results improved from a loss of $1.7 million (after preferred dividend requirements) to an income applicable to common shareholders of $473,000, also after preferred dividend requirements. For twelve months, loss from operations was $2.2 million compared to an operating loss of $5.9 million in 2013, a 63.6% decrease. Cash flow from operations was a negative $3.9 million primarily due to increase in accounts receivable, decrease in current liabilities, and loss from operations, mitigated by a decrease in inventory and depreciation.

 

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