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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022				​	March 31, 2021			​
Number of significant customers		​	3			​	​	1
Aggregate dollar amount of net sales to significant customers	​	$	33.8	million	​	​	$	37.8	million	​
Percentage of net sales to significant customers	​	​	75.6%		​	​	​	75.5%		​

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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the three months ended March 31, 2022:

​

​

​

Blood

​

​

​

​

Total

​

​

​

​

​

Collection

​

EasyPoint®

​

Other

​

Product

Geographic Segment

​

Syringes

​

Products

​

Needles

​

Products

​

Sales

U.S. sales (excluding U.S. government)

​

$

8,395,303

​

$

1,077,695

​

$

729,970

​

$

9,874

​

$

10,212,842

Sales to U.S. government

​

​

15,731,136

​

​

—

​

​

—

​

​

—

​

​

15,731,136

North and South America sales (excluding U.S.)

​

11,074,246

​

—

​

2,608

​

274

​

11,077,128

Other international sales

​

7,505,438

​

211,368

​

2,888

​

1,550

​

7,721,244

Total

​

$

42,706,123

​

$

1,289,063

​

$

735,466

​

$

11,698

​

$

44,742,350

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the three months ended March 31, 2021:

​

​

​

Blood

​

​

​

​

Total

​

​

​

​

​

Collection

​

EasyPoint®

​

Other

​

Product

Geographic Segment

​

Syringes

​

Products

​

Needles

​

Products

​

Sales

U.S. sales (excluding U.S. government)

​

$

8,759,314

​

​

574,008

​

​

1,612,333

​

​

15,536

​

$

10,961,191

Sales to U.S. government

​

​

37,782,360

​

​

—

​

​

—

​

​

—

​

​

37,782,360

North and South America sales (excluding U.S.)

​

825,820

​

​

—

​

​

11,968

​

​

109,440

​

947,228

Other international sales

​

199,316

​

​

37,350

​

​

144780

​

​

1,500

​

382,946

Total

​

$

47,566,810

​

$

611,358

​

$

1,769,081

​

$

126,476

​

$

50,073,725

Schedule of diluted EPS under the treasury stock method

​

​	​	​	​	​
​	​	Three Months Ended	​	Three Months Ended
​		March 31, 2022		March 31, 2021
Common Stock underlying issued and outstanding stock options	​	96,244		152,967
Common stock issuable upon the conversion of convertible preferred shares	​	232,445		257,945
​	​	328,689		410,912

Schedule of earnings per share

​

​	​	​	​	​	​	​	​
​	​	Three Months Ended		​	Three Months Ended		​
​		March 31, 2022			March 31, 2021		​
Net income	​	$	7,616,455	​	$	17,955,884	​
Preferred stock dividend requirements	​		(58,111)	​		(64,938)	​
Income applicable to common shareholders	​	$	7,558,344	​	$	17,890,946	​
Average common shares outstanding	​		33,265,453	​		33,967,771	​
Average common and common equivalent shares outstanding — assuming dilution	​		33,594,142	​		34,378,683	​
Basic earnings per share	​	$	0.23	​	$	0.53	​
Diluted earnings per share	​	$	0.23	​	$	0.52	​

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-Name Accounting Standards Codification
-Topic 606
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