---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-038528"
form_type: "8-K"
ticker: "ICCC"
cik: "0000811641"
company_name: "IMMUCELL CORP /DE/"
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T05:19:18.659580+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# ImmuCell Q1 product sales down 43% to $3.4M; net loss $2.3M due to contamination

## Summary
- Product sales fell 43% YoY to $3.4M; net loss of $2.3M ($0.30/basic share) vs net income of $513K ($0.07 diluted) in Q1 2022.
- Gross margin collapsed to 9% from 52% on write-off of contaminated inventory and production slowdown.
- Order backlog surged to ~$8M as of May 3, 2023, from $2.5M at Dec 31, 2022, due to reduced output.
- Cash dropped to $3.1M from $5.8M; EBITDA turned negative to ($1.6M) from $1.2M a year ago.
- Remediation efforts underway; management targets $6M quarterly production run-rate (80% of $30M capacity).

## SEC filing metadata
- accession: 0001213900-23-038528
- form_type: 8-K
- ticker: ICCC
- cik: 0000811641
- company_name: IMMUCELL CORP /DE/
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/811641/000121390023038528/0001213900-23-038528-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/811641/000121390023038528/ea178219-8k_immucell.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-038528
- JSON: https://secwatch.observer/filing/0001213900-23-038528.json
- Plain text: https://secwatch.observer/filing/0001213900-23-038528.txt

## Key facts
- Earnings Releases
  IMMUCELL CORP /DE/ reported the quarter ended March 31, 2023 results: revenue $3.4 million, net income ($2.3) million, EPS ($0.30) per basic share.
  - Period: the quarter ended March 31, 2023
  - Revenue: $3.4 million
  - Net income: ($2.3) million
  - EPS: ($0.30) per basic share
  - Result: reported results
  source text: Product sales decreased by 43%, or $2.6 million, to $3.4 million during the three-month period ended March 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/811641/000121390023038528/0001213900-23-038528-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.