ImmuCell Q1 2023 sales $3.45M, down 43% YoY; backlog rises to $7.5M

IMMUCELL CORP /DE/

2023-Q1 EPS reported -$0.30 revenue$3,446,527

Q1 2023 sales $3.45M vs $6.00M in Q1 2022, a 43% decrease due to production slowdown from contamination events.
Trailing twelve months sales $16.01M vs $21.14M, down 24%.
Backlog of orders increased to $7.5M as of March 31, 2023, from $2.5M at Dec 31, 2022.
Quality control improvements: first test pass rate 82%, subsequent tests 100% success; production ramping up in Q2.
Expects third submission of CMC Technical Section for Re-Tain FDA approval around end of April 2023, subject to six-month review.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

IMMUCELL CORP /DE/ reported the first quarter of 2023, which ended March 31, 2023 results: revenue $3.45 million.

Period: the first quarter of 2023, which ended March 31, 2023
Revenue: $3.45 million
Result: preliminary results

Exact text from the filing

unaudited sales results for the first quarter of 2023, which ended March 31, 2023. 2023 2022 ($ Decrease) (% Decrease) During the Three-Month Periods Ended March 31, $3.45 million $6.00 million ($2.55 million) (43 )% During the Twelve-Month Periods Ended March 31, $16.01 million $21.14 million ($5.12 million) (24 )% Actual sales during the first quarter of

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Source: SEC EDGAR

accession 0001213900-23-027540

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