ImmuCell Q1 2024: Record sales $7.3M (+111% YoY); net loss narrows; FDA delays Re-Tain

IMMUCELL CORP /DE/

2024-Q1 EPS reported -$0.06 revenue$7,257,577

Product sales of $7.3M, up 111% YoY from $3.4M; all-time quarterly record.
Net loss improved to $438k ($0.06/sh) vs $2.3M loss ($0.30/sh) a year ago.
Gross margin rose to 32% from 9%, driven by recovery from 2023 contamination events.
Production output annualized to $28.7M (~96% of $30M capacity); backlog $9.1M.
FDA issued Incomplete Letter for Re-Tain CMC; requires contract manufacturer inspection resolution before resubmission.

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 quarter ended March 31, 2024 results: revenue $7.3 million, net income Net loss was $438,000, EPS $0.06 per basic share.

Period: the quarter ended March 31, 2024
Revenue: $7.3 million
Net income: Net loss was $438,000
EPS: $0.06 per basic share
Result: reported results

Exact text from the filing

comparable period ended March 31, 2023. Total sales during the trailing twelve-month period ended March 31, 2024 were 33% above the comparable period ended March 31, 2023. The $7.3 million in sales recorded during the first quarter of 2024 represents an all-time quarterly sales record for the Company. The next highest quarter was $6 million recorded during the

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Source: SEC EDGAR

accession 0001213900-24-042926

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