Retractable Technologies reported losses of $1.2 million, or -4¢ per share, on sales of $9.2 million for the 3 months ended Sept. 30. That an increase in losses of 103.7% on a sales decline of 3.0% compared with the same period last year.
The Little Elm, Texas-based safety syringe maker said it expects sales to pick up during the 4th quarter, due to the flu season.
The earnings results sent RVP shares down 10.0% to a $2.60 close Nov. 14, the day the earnings were reported. RVP shares rebounded the next day, gaining 4.2% to close at $2.71 apiece. The stock was trading at $2.75 per share, up another 1.5%, as of about 11 a.m. today.
In September Retractable won a $114 million decision when a federal judge in Texas ruled that BD violated the Lanham Act’s false advertising proscription. Becton Dickinson appealed the decision the next month.