Financial overview of Q3\2013

The third quarter of fiscal year 2013 saw $668K in revenue. This is an increase of $34K, or 5% in revenues from the previous quarter.

The cost of revenues saw a significant decline of $-212, or -44% for a total of gross profit of $401K.

This quarter’s operating expenses totaled $675, leaving Elite with a net loss from operations of -$274K, which is a decline of -47% from the previous quarter.

Revenue

Manufacturing revenue which totaled $400K saw a decline of -$66K, or -14% from the previous quarter.

Compared with the previous quarter, royalty and Lic revenue which totaled $157K grew by $3K, or 2%.

Lab fees which totaled $111K increased significantly from the previous quarter by 693%, or $97K.

YOY comparison

Compared to Q3\2012, Elite generated an additional $159K in revenues, for growth of 31%.

YTD revenues total $1,880K which compared to last year is an increase of 6%.

Source: 2011, 2012, and 2013 SEC Form 10-Q available at http://www.sec.gov/search/search.htm