Retractable Technologies, Inc. Amends HHS Delivery Order
Retractable Technologies, Inc. (RVP) announced an amendment to delivery order 75A50120F33003 from the Department of Health and Human Services, extending the performance end date from May 2021 to March 2022. The amendment reallocates orders to increase shipments of 1mL low dead-space safety syringes. The total contract price and freight costs remain unchanged. The company emphasizes potential challenges, including COVID-19 impacts, liquidity issues, and foreign trade risks among others, that could affect future performance.
- None.
- Extended contract period may indicate delays in production or demand.
- Possible operational challenges due to COVID-19 affecting logistics and costs.
- Risks related to maintaining liquidity and patent protection.
Retractable Technologies, Inc. (NYSE American: RVP) announced today that it has entered into an amendment to delivery order 75A50120F33003 from the Department of Health and Human Services which was awarded May 1, 2020. The amendment changes the period of performance end date from May 2021 to March 2022 and reallocates the products ordered to increase shipments of 1mL low dead-space safety syringes. The previously disclosed total contract price and freight costs are unchanged.
For more information on Retractable, visit its website at www.retractable.com.
Forward-looking statements in this press release are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and reflect Retractable's current views with respect to future events. Retractable believes that the expectations reflected in such forward-looking statements are accurate. However, Retractable cannot assure you that such expectations will materialize. Actual future performance could differ materially from such statements.
Factors that could cause or contribute to such differences include, but are not limited to: the impact of COVID-19 on all facets of logistics and operations, as well as costs, Retractable’s ability to complete capital improvements and ramp up domestic production in response to government agreements, potential tariffs, Retractable's ability to maintain liquidity; Retractable's maintenance of patent protection; Retractable's ability to maintain favorable third party manufacturing and supplier arrangements and relationships; foreign trade risk; Retractable's ability to access the market; production costs; the impact of larger market players in providing devices to the safety market; and other risks and uncertainties that are detailed from time to time in Retractable's periodic reports filed with the U.S. Securities and Exchange Commission.
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