quarter we year. today. Thank XX-Q for good calling you, Nasrat, and third in our everybody. Thank everybody filed our to of you XXXX Yesterday, morning, the fiscal
We have ending XX. March a fiscal year
XX, December filings. year. quarter sec.gov of elitepharma.com, on else, the XXXX, any third fiscal place available is get and your It you our SEC XXXX is So
you yet, appreciate a I'll We taking going of through. we of thank much do questions, received more relevant I look all financial to And way, lot get last So seen best answer I did them really questions. the along you statements. a and I'm please, go a to at night, some all my the the you so would that. as little you lot of the haven't for and a give context if over it go areas of
million. Total the the revenues with quarter were start $XX.X for let's P&L. So
December yes, and question and answer a last a quarter, $X.X last to that quarter. lot a that's You X% questions, got is, quarter. the million year XXXX Prasco million in increase, revenue $XX.X included December Percentage-wise, it's the I XXXX is shipment compare for can XX% of the the for in increase the September to last that and year-on-year since quarter made for the And numbers.
For were $XX.X the the full million P&L, for year. our on X this revenues months
compare can year-on-year a million XX% that last You to year. is increase. That $XX.X
for to the million million. million year. XXXX, And for Our XX, $X.X the was the was operating $X.X ended compare quarter September December $X income -- last quarter, that quarter last
XX% and over increase it's September percentage-wise, So XX% XXXX year-on-year increase quarter.
that's X For XX% percentage-wise, the year-on-year X last and XXXX, our compared operating XX, for $X.X December full the increase. $X.X months income full months, million was million ended to year,
you you're of revenues, see change at, increases. way operating biggest this was obviously in our operating year-on-year of look Label Elite successful as XXXX. whichever launch our year, April profits, to our Now to compared a only year last The going significant
It's solidifying before P&L XXXX been. But label The Elite didn't growth. they labels. we have expanding, revenue So very demonstrates were were before Elite that, the how successful the successful.
And clearly does. Elite even launched this, our has our streams our and XXXX numbers just very, been even label growing has boosted
history, XX was little $XX March XXXX, then ended million. were for was year, $X.X XXXX last full a XX, our million. months. it in a give Just was $XX $XX And full year million, year XXXX, XXXX, fiscal you to XXXX, was it -- it fiscal million. and revenues XXXX, In million $XX it
a year fiscal with for million. was quarters into revenues. $XX that's almost X only only $XX the this whole good booked months, our we've last year, there, was months million And year, XX and year And So it growth. nice in X already
positive already the Elite but just the steam more doubting in been importance full added of than results.
No, year that that's years. -- a no the had company more year's So we're X for already above launch, direction to moving it's label steadily last there's
Moving any importantly, and of require speak for finance available hiring what does, lifeblood generated now of he again, we perspective, see And to to from people. we're research exception.
We the -- and commercial our X insight plans the continuing Development. both on is million operations. said $X.X $XXX,XXX, were more million around over expenses and admin and due quarter, the December increase mostly the last from R&D people year's to jobs spent a a and and year Development. R&D, up general a more last here. development result and launch, flows more more R&D, new together. fund need year, development company, footprint, of I HR There's want and label is quarter. more because XXXX and from larger because opportunities. on to months doing they over more G&A, we're by general $X.X that.
G&A P&L. is was putting I've for expenses, pharmaceutical like current we This expansion which $X.X December good some cash and this both The down and the administrative into million Nasrat, million give are as quarter versus quarter operations it $X.X Product products infrastructure. more as it's up no R&D always But Elite about them Product operations, usually talk I -- the we're on will they the expenses, there's
So that's nice. always
to infrastructure. we of continues, the growth better As utilization the have expect
we're utilization of rates and going looking line efficiency compared increase, our costs for So these improved as to top to are revenues.
to a question the income of X months proportion for So This operating the loss our our million standpoint.
I the going $XX.X net down line, similar ended XXXX. get you the going XX, December carryforwards. answer, forward, NOL, also is on I'm question benefits below that at future tax benefit, had a tax of a look in I did on
filed the year, didn't they this carry large deductions many sheet, going be fully profitable meet years, were was realize and I'm reasonably as past case, effect this Prior tax our benefit profitable. for there. that these tax returns because we they're are be profitable forward forwards of we to the criteria order and the the to NOLs consistently it we that the tax in meaning the balance the going going demonstrate both these to but on reserved, deductions, with in in we tax tax that of to were not to was answer deductions.
Prior year, that up of to so So take these weren't are to able These become have our deductions both can together we we IRS. profitable losses, take operating built those related.
Elite was we net as tax or to
we've demonstrating for expectation we of a Now profits meet several been and profitable forward. years, the going criteria reasonable
value a to tax real these NOL value deductions form real profits. of now have the carry in So a against us, forwards
big it -- in So but this the reserve March small was the of -- this the fully a there a released. was year partial XX, release of in amount, was reserve September this was release release was the year,
showing now that will benefit, to we're that use going tax a we future forward. have So we able be
on deferred we you $XX.X which a of happens, we have have, have that when book an balance million. our sheet asset to tax asset, So
value balance the every There It's was what every it there It is our these reporting will So is. sheet. question quarter. forward there tax going on about a of be deductions? period,
will tax this every rate the $XX.X value December of But so wise an real deduction. as do We on that. see that's going forward million what's the tax changes, quarter there.
Income is as And value this. evaluation You'll XX, a
negative release forward. we flip the reserve, onetime on We years essentially, the side tax, is income record was be able benefit when like tax that statement. going to a expect $XX.X The our to P&L it's and a take it's in we million, benefit,
So to moving cash the flow.
growing. with was million. with the December cash make Strong revenues, are XX, is working a of textbook X side, growth, X XX rotating almost it X profits us. but this million receivables growth. capital, months rapid we're on we have and but example Those it's through.
Sales the cash strong, these industry, And for may sense flip approximately 'XX, grew quite Our at together burn the burn $X.X in importance during initial rapid going coupled increasing, strong inventories ended operating into what for Whenever positive start of the receivables for flow. and growth, of $XX type are are our which inventory are this to normal to of first, also not takes, phase you year, months also for profits companies
sell We receivable. have manufacture, buy inventory, accounts our it, to ship the it, collect
call roughly, So months to there's rotations happening, XX before a takes we and flows. positive start that now X phase. I And what we cash entering and just we're into achieving whole process.
And that, are months, it X
generating start the will ongoing from So continue working and things working to that that we I inventory and expansion. receivables we booked the support look already to as for prior period, capital, the revenue capital grow, the
as you go going as you on. then up, as there's to up working keep level and demands, we steady until long things hit state So a going always capital be
the Now sheet. on to balance
current that's financials, demonstrate minus our million, Our the capital they working current this. capital working XX% X months, liabilities XX.
Profits since has March $X.X past approximately increased assets over and by drive clearly
the had I total been a So faster assets rate at increasing. increasing have questions some rate that on that is total than liabilities
So rates a question this is of increase. on the
accrued statement, warrant really, P&L There's there's value are our on liability value question, want on derivative the balance you lines -- derivatives there fair that statements. in are to X stock-based that there, And P&L. on to answer on to of expenses and I X the financial and there's our on the lines of Now also side. point change liabilities change in the sheet, then liability, our
$X accrued of stock-based the million On approximately are $XX.X in liabilities. expenses, for accrued million, expenses
financial XXX% look a details the our you of derivatives in more at warrant Note are And that. you obviously X, give If little stock-based. statements,
over few liabilities so the so it stock essentially quite up liability. if have we to past adjust these up the then price stock goes are Now a as -- the price has bit and our gone valued months,
have liability higher. make the We to
on expense. there's it for the value, the $X.X the It's in And, the quarter. X Whenever And million. recorded increase for our is revaluations it's statement. adjust just is months, net That's effect we the fair liability, So change for P&L. liabilities. a P&L our have new require what which these did.
And of that liabilities, $XX we existing really these that million so revalue we all not quarter, accounting rules, the was to P&L any the in liabilities they is on of
of inventory But So a to as the X of on question from of fiscal $XX.X got we booked million was change year inventory months.
I $X.X the our the $X.X million And million. XX, level. at levels inventory million December XX. increased of for $XX from our value our quarter the for beginning million $XX.X liabilities also September in and has
challenged. always We're $XXX,XXX supply a to have inventory, chain December. that's also from going to support. sure achieve here. enough decrease just-in-time So trying standard we make September level pretty to all we metrics We're but have is stock on This
There's and have manufacturing support our lead to we regulatory to and things times the all operations. do that
-- we're ordinary we're trying nothing always So monitoring supply on levels. always our just to going chain metrics than There's more here. inventory really
issues. to no look are that, there at continue We but
you to up sum than So we X already from look XX%. months are Elite last at company different things XXXX, are revenue more months December Revenues are to revenue. profits XXXX than very XX one Pharmaceuticals, are year's up, December when XX%. compared Operating a up at looking ago. year
increasing, is balance strengthen. is low, sheet and and working continues our capital our debt Our to is strong
when which different So last all very better the for is the a compared company, year. of to
been all of going see the things to happy on have lately. that very So
So my that concludes presentation.
Mr. provide his our Nasrat will CEO, comments. Now Hakim
