Elite Pharmaceuticals Inc (ELTP)

[lasers]

snupoled FY2014 vs FY2013 is 35% higher revenue

Consolidated revenues were $4.6 million for the fiscal year, an increase of $1.2 million or approximately 35% over consolidated revenues for the prior year.

FY2014 12 months $4,601,376 revenue vs FY 2014 9 months $3,573,832.

Elite’s balance sheet was also its strongest on record, reporting a working capital surplus of $3.8 million, the first working capital surplus in 5 years. Based on the strength of its balance sheet, combined with the growth in commercial operations and access to significant financing, management determined that Elite is sufficiently capitalized to operate as a going concern.

Cannot compare 4Q2014 vs 3Q2014 because 3Q2014 had upfront milestone payments for the ANDAs licensed to Epic.