Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) stock is moving a bit higher in the morning session on Tuesday.
Market Action
As of 10:08, ELTP stock gained 2.20% to $0.0580 with more than 211K shares, compared to its average volume of 703K shares. The stock has moved within a range of $0.0546 – 0.0600 after opening the trade at $0.0575.
Major Trigger:
Elite Pharmaceuticals, Inc. Reports Financial Results for the Fiscal Year Ended March 31, 2021 and Provides Conference Call Information
Key Highlights:
- Consolidated revenues for Fiscal 2021 were $25.4 million, an increase of $7.4 million or approximately 41% from the comparable period of the prior fiscal year. The increase in revenues was primarily attributed to revenues from generic immediate-release Adderall®, generic extended-release Adderall®, generic Dantrolene Capsules, and strong revenues relating to Isradipine sales capsules. Operating profits were $2.1 million, an increase of $4.3 million from the comparable period of the prior year, and net income was $5.1 million.
- Elite’s management will host a conference call to discuss the year-end 2021 financial results and provide an update on recent business developments. Stockholder questions should be submitted to the company in advance of the call.
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