ImmuCell posts net income gain in Q3
The Portland-based biotech firm ImmuCell logged $57,000 in net income in the third quarter of the year, up from a loss of $64,000 posted for the same period last year.
In its unaudited quarterly statement, the company reported $1.24 million in product sales, up from nearly $1.1 million for the period ending Sept. 30 last year. That makes six consecutive quarters of product sales growth that Michael Brigham, the company’s president and CEO, said will support funding to conduct initial test marketing for its product to treat bovine mammary infections, Mast Out, which completed an effectiveness study in 2009.
Year-to-date, the company logged $268,000 in net income, compared with $106,000 in net income by the same time last year.
The price of ImmuCell shares were unchanged, at $4.20, on the NASDAQ exchange in mid-day trading.
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