Immucell Announces Increase in Product Sales and Continued Profitability


Immucell Announces Increase in Product Sales and Continued Profitability

Immucell ImmuCell Corporation (NASDAQ: ICCC) today announced the results of its operations for the three-month and six-month periods ended June 30, 2013.

During the three-month period ended June 30, 2013, product sales increased by 16%, or $191,000, to $1,366,000 in comparison to $1,175,000 during the same period in 2012. During the six-month period ended June 30, 2013, product sales increased by 11%, or $321,000, to $3,213,000 in comparison to $2,892,000 during the same period in 2012. During the twelve-month period ended June 30, 2013, product sales increased by 10%, or $511,000, to $5,711,000 in comparison to $5,200,000 during the same period ended in 2012.

Net operating income was $24,000 during the three-month period ended June 30, 2013, in comparison to net operating income of $37,000 during the same period in 2012. Net income was $6,000, or less than $0.01 per share, during the three-month period ended June 30, 2013, in comparison to net income of $15,000, or less than $0.01 per share, during the same period in 2012.

Net operating income was $350,000 during the six-month period ended June 30, 2013, in comparison to net operating income of $319,000 during the same period in 2012. Net income was $211,000, or $0.07 per share, during the six-month period ended June 30, 2013, in comparison to net income of $170,000, or $0.05 per share, during the same period in 2012.

“Our continued profitability and consistent growth in product sales allows us the flexibility needed to adjust our strategy in pursuit of FDA approval of Mast Out®,” commented Michael F. Brigham, President and CEO.

Cash, cash equivalents and short-term investments increased by 16%, or $763,000, to $5,676,000 as of June 30, 2013, in comparison to $4,914,000 as of December 31, 2012. Stockholders’ equity increased by 3%, or $251,000, to $9,446,000 as of June 30, 2013, in comparison to $9,195,000 as of December 31, 2012. The Company had 3,019,000 shares of common stock outstanding as of June 30, 2013.

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8.12.2013