Lucky I'm here to post facts as opposed to BS. Notice the lack of question mark.
Consolidated revenues for the first quarter were $3.3 million, an increase of approximately 51% over revenues of the first quarter of the prior year. This increase is due to the continued growth in both manufacturing and license revenues. Manufacturing revenues grew by 52%, from $1.7 million last year to $2.7 million in the current year quarter. License fees increased by 47%, from $0.5 million last year to $0.7 million in the quarter ended June 30, 2016. The primary driver of this growth is the continued expansion and establishment of Elite's generic product lines in the market.
"After three straight years of record revenues, Fiscal 2017 begins with another strong quarter with revenues continuing their upward trend," commented Nasrat Hakim, Elite's President and CEO. "Further, we are moving ahead with a plan to address the items listed by the FDA for SequestOX™ and will continue developing our abuse-deterrent product pipeline while growing our generic line."
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