ImmuCell Q2 sales down 9% to $3.5M; net loss widens to $1.4M from $684K

IMMUCELL CORP /DE/

2023-Q2 EPS reported -$0.48 revenue$6,979,207

Product sales $3.5M in Q2 2023 vs $3.9M in Q2 2022 (-9%); gross margin fell to 30% from 44%.
Net loss $(1.4M) or $(0.18)/share vs $(0.684M) or $(0.09)/share in prior-year quarter.
Six-month net loss widened to $(3.7M) from $(171K); EBITDA turned negative $(2.2M) vs positive $1.2M.
Cash dropped to $1.5M from $5.8M at Dec 31, 2022; raised $3M debt facility with 7-year amortization.
CEO cites production contamination remediation; goal to reach ~$6M quarterly output (80% of $30M capacity).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

IMMUCELL CORP /DE/ reported the quarter ended June 30, 2023 results: revenue $3.5 million, net income ($1.4) million, EPS ($0.18) per basic share.

Period: the quarter ended June 30, 2023
Revenue: $3.5 million
Net income: ($1.4) million
EPS: ($0.18) per basic share
Result: reported results

Exact text from the filing

review shortly, which is a critical milestone in our efforts to commercialize this product.” 1 of 6 Certain Financial Results: ● Product sales decreased by 9%, or $329,000, to $3.5 million during the three-month period ended June 30, 2023 compared to $3.9 million during the three-month period ended June 30, 2022. ● Product sales decreased by 29%, or $2.9 million,

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

IMMUCELL CORP /DE/ reported the six-month period ended June 30, 2023 results: revenue $7.0 million, net income ($3.7) million, EPS ($0.48) per basic share.

Period: the six-month period ended June 30, 2023
Revenue: $7.0 million
Net income: ($3.7) million
EPS: ($0.48) per basic share
Result: reported results

Exact text from the filing

the three-month period ended June 30, 2023 compared to $3.9 million during the three-month period ended June 30, 2022. ● Product sales decreased by 29%, or $2.9 million, to $7.0 million during the six-month period ended June 30, 2023 compared to $9.9 million during the six-month period ended June 30, 2022. ● Product sales decreased by 23%, or $4.8 million, to

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

IMMUCELL CORP /DE/ reported the trailing twelve-month period ended June 30, 2023 results: revenue $15.7 million.

Period: the trailing twelve-month period ended June 30, 2023
Revenue: $15.7 million
Result: reported results

Exact text from the filing

Product sales decreased by 23%, or $4.8 million, to $15.7 million during the trailing twelve-month period ended June 30, 2023 compared to $20.5 million during the trailing twelve-month period ended June 30, 2022.

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Source: SEC EDGAR

accession 0001213900-23-065597

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