NORTHVALE, N.J., Feb. 22, 2010 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. (OTCBB:ELTP) announced results for the third quarter ended December 31, 2009. Revenues for the three months ended December 31, 2009 were $917,383, an increase of $680,603 or approximately 287% over revenues for the comparable period of the prior year, and consisted of $744,948 in manufacturing fees and $172,435 in royalty fees. Revenues for the three months ended December 31, 2008, consisted of $162,558 in manufacturing fees and $74,222 in royalty fees. Manufacturing fees increased by approximately 358% due to increased orders resulting in large part from increased marketing efforts being made by the distributor of the products for whom we manufacture on a contract basis and due to timing of orders. Royalties increased by approximately 132% due to growth of product sales.
