Elite Diagnostics Ltd (ELITE) Earned Less Than 3/4 Of What It Made Last Year As The Company Struggles With Equipment Breakdown, Reduced Demand & Hours – Jun 2020 (YE) Earnings Review

Elite Diagnostics Ltd (ELITE) recently reported their June 2020 Year End (YE) results. Here are the highlights.

This is just a summary, but for more charts, ratios and other details visit ELITE’s page here

Year To Date (2020YE)

  • Revenue totaled $439.80m. Increasing by 8.63% or 34.93m YTD YoY.
    Notable increase in revenue, indicative of continued demand for their services. However, revenue growth is less than expected considering the expansion (indicative of their challenges), and is also not enough to cover the growth in expenses.
  • Cost Of Sales / Direct Expenses was -$161.50m. Up by 27.92% or -35.25m YTD YoY.
    ELITE suffered from lengthier than expected  equipment breakdowns in its St. Ann location. The effects of COVID-19 also affected in procurement of parts and assessment for repairs.
Quarterly Financials 96.76m 2019Q2 107.00m 2019Q3 115.66m 2019Q4 118.0m 2020Q1 117.92m 2020Q2 111.37m 2020Q3 92.51m 2020Q4
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