XML 18 R21.htm IDEA: XBRL DOCUMENT v3.20.1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2020

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of estimated useful lives of property, plant and equipment

Production equipment		3 to 13 years
Office furniture and equipment		3 to 10 years
Buildings		39 years
Building improvements		15 years

Schedule of significant customers

		Three Months Ended				Three Months Ended
		March 31, 2020				March 31, 2019
Number of significant customers			3				3
Aggregate dollar amount of net sales to significant customers		$	5.4 million			$	3.9 million
Percentage of net sales to significant customers			48.2	%			48.6	%

Schedule of disaggregated information of revenue recognized from contracts with customers and licensing fees

		For the three months ended March 31, 2020:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	6,972,935		$	580,123		$	765,860		$	17,879		$	8,336,797
North and South America sales (excluding U.S.)			2,054,784			2,700			1,496			687,420			2,746,400
Other international sales			114,830			1,740			—			2,450			119,020
Total		$	9,142,549		$	584,563		$	767,356		$	707,749		$	11,202,217

		For the three months ended March 31, 2019:
					Blood									Total
					Collection			EasyPoint®			Other			Product
Geographic Segment		Syringes			Products			Needles			Products			Sales
U.S. sales		$	5,625,387		$	451,077		$	48,472		$	14,975		$	6,139,911
North and South America sales (excluding U.S.)			1,330,330			3,863			252			925			1,335,370
Other international sales			241,243			210,700			—			5,250			457,193
Total		$	7,196,960		$	665,640		$	48,724		$	21,150		$	7,932,474

Schedule of earnings per share

		Three Months Ended			Three Months Ended
		March 31, 2020			March 31, 2019
Net income (loss)		$	322,773		$	(129,221)
Preferred stock dividend requirements			(174,143)			(176,249)
Income (loss) applicable to common shareholders		$	148,630		$	(305,470)
Weighted average common shares outstanding			32,681,204			32,666,454
Weighted average common and common equivalent shares outstanding — assuming dilution			32,745,972			32,666,454
Basic earnings (loss) per share		$	0.00		$	(0.01)
Diluted earnings (loss) per share		$	0.00		$	(0.01)

X

- Definition

Tabular disclosure of the useful life of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.

+ References

No definition available.

+ Details

Name:	rvp_UsefulLifeOfPropertyPlantAndEquipmentTableTextBlock
Namespace Prefix:	rvp_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13537-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13531-108611

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6404-108592

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6327-108592

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 18
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6351-108592

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6442-108592

+ Details

Name:	us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration