Elite Pharmaceuticals, Inc. Reports Financial Results for the First Quarter of Fiscal Year 2027 Ended June 30, 2026 and Provides Conference Call Information

Rhea-AI Summary

Elite Pharmaceuticals (OTCQB: ELTP) reported financial results for the first quarter of fiscal year 2027 ended June 30, 2026. Consolidated revenue was $32.4 million, down $7.9 million or about 19.5% from the prior-year quarter, which had been the company’s largest quarter.

Income from operations was $7.5 million, a decrease of $14.2 million or roughly 65%, mainly due to lower margins on the generic Vyvanse product line following a competitive market adjustment that affected this quarter more than the prior-year period. Net income attributable to common shareholders was $5.9 million. According to Elite, First Quarter results are in line with the preceding three quarters.

Management will host a conference call on August 14, 2026 at 11:30 AM EDT. Investors can dial 1-800-346-7359 (domestic) or 1-973-528-0008 (international), using conference number 98840, and may submit financial questions by email in advance.

Positive

• Revenue $32.4M for Q1 FY2027
• Income from operations $7.5M for the quarter
• Net income $5.9M attributable to common shareholders in Q1 FY2027
• Results described as in line with the three prior quarters

Negative

• Quarterly revenue declined 19.5% year-over-year, down $7.9M
• Income from operations fell about 65% year-over-year, down $14.2M
• Lower margins from the generic Vyvanse product line pressured operating results
• Competitive market adjustment had a greater impact on this quarter than the prior-year period

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Conference Call Scheduled for Friday, August 14, 2026 at 11:30 AM EDT

Northvale, New Jersey--(Newsfile Corp. - August 13, 2026) - Elite Pharmaceuticals, Inc. (OTCQB: ELTP) ("Elite" or the "Company"), a specialty pharmaceutical company developing niche generic products, announced results for the first quarter of fiscal year 2027 ended June 30, 2026 ("First Quarter").

Consolidated revenues for the three-month period ending June 30, 2026, were $32.4 million, a decrease of $7.9 million or approximately 19.5% as compared to the same period of the prior fiscal year in which Elite had the largest quarterly revenue in its history. Income from operations were $7.5 million, a decrease of $14.2 million or approximately 65%, as compared to the same period of the prior fiscal year, which can primarily be attributed to lower margins realized from sales of Elite's generic Vyvanse® product line. The competitive market adjustment from last year had a greater effect on this year's First Quarter, as compared to the same period of the prior year. While comparison of the prior year quarter shows decreases, the results from the First Quarter are in line with respect to the three prior quarters. Net income attributable to common shareholders was $5.9 million.

Conference Call Information

Elite's management will host a conference call to discuss the First Quarter of Fiscal Year 2027 financial results and provide an update on recent business developments. Stockholder questions should be submitted to the company in advance of the call.

Date:	August 14, 2026
Time:	11:30 AM EDT
Dial-in numbers:	1-800-346-7359 (domestic) 1-973-528-0008 (international)
Conference number:	98840
Questions:	dianne@elitepharma.com Financial questions by 7:00 PM EDT on Thursday, August 13, 2026
Audio Replay:	https://elite.irpass.com/events_presentations

 

The financial statements can be viewed for Elite's First Quarter of Fiscal Year 2027 on Form 10-Q here.

About Elite Pharmaceuticals, Inc.
Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company that develops and distributes niche generic products. Elite specializes in developing, manufacturing, and distributing oral, controlled-release drug products. Elite owns multiple generic products, which it distributes nationwide under the Elite Laboratories, Inc. label. Elite operates a cGMP and DEA-registered research, development, and manufacturing facility in Northvale, NJ. For more information, visit www.elitepharma.com.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, those related to the effects, if any, on future results, performance or other expectations that may have some correlation to the subject matter of this press release. Readers are cautioned that such forward-looking statements involve, without limitation, risks, uncertainties and other factors not under the control of Elite, which may cause actual results, performance or achievements of Elite to be materially different from the results, performance or other expectations that may be implied by these forward-looking statements. These forward-looking statements may include statements regarding the expected timing of approval, if at all, of products by the FDA, and the actions the FDA may require of Elite in order to obtain such approvals. These forward-looking statements are not guarantees of future action or performance. These risks and other factors are discussed, without limitation, in Elite's filings with the Securities and Exchange Commission, including its reports on forms 10-K, 10-Q, and 8-K. Elite is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
For Elite Pharmaceuticals, Inc.
Dianne Will, Investor Relations, 518-398-6222
Dianne@elitepharma.com
www.elitepharma.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309546

FAQ

What were Elite Pharmaceuticals (OTCQB: ELTP) revenues for Q1 fiscal 2027 ended June 30, 2026?

Elite reported Q1 fiscal 2027 revenue of $32.4 million. According to Elite, this was a decrease of $7.9 million, or about 19.5%, compared with the same quarter of the prior fiscal year, which had been Elite’s largest quarterly revenue.

How did Elite Pharmaceuticals’ Q1 FY2027 income from operations compare year over year?

Income from operations for Q1 FY2027 was $7.5 million. According to Elite, this represented a decline of $14.2 million, or roughly 65%, versus the same period last year, primarily reflecting lower margins from sales of the generic Vyvanse product line.

What net income did Elite Pharmaceuticals (ELTP) report for Q1 fiscal 2027?

Elite reported Q1 fiscal 2027 net income attributable to common shareholders of $5.9 million. According to Elite, despite year-over-year declines in revenue and operating income, the First Quarter’s overall results were in line with the company’s performance over the three preceding quarters.

Why did Elite Pharmaceuticals’ Q1 FY2027 results decline compared to the prior-year quarter?

According to Elite, the decline mainly reflects lower margins on its generic Vyvanse product line. A competitive market adjustment that occurred last year had a greater effect on Q1 fiscal 2027 than on the same quarter of the prior fiscal year.

When is Elite Pharmaceuticals’ Q1 FY2027 earnings conference call and how can investors join?

Elite’s conference call is on August 14, 2026 at 11:30 AM EDT. According to Elite, investors can dial 1-800-346-7359 domestically or 1-973-528-0008 internationally and enter conference number 98840 to participate in the call.

How can shareholders submit questions for Elite Pharmaceuticals’ August 14, 2026 earnings call?

Shareholders are asked to email financial questions to the company in advance. According to Elite, questions should be sent to the provided investor relations email address by 7:00 PM EDT on Thursday, August 13, 2026 for consideration during the conference call.

Where can investors find Elite Pharmaceuticals’ Q1 FY2027 Form 10-Q and audio replay?

Elite’s Q1 FY2027 financial statements are available on its Form 10-Q. According to Elite, an audio replay of the August 14, 2026 conference call can be accessed at https://elite.irpass.com/events_presentations after the event for investors who could not attend live.