ImmuCell Corp. is a biotechnology company that is developing, manufacturing and selling products that improve animal health and productivity in the dairy and beef industries. The company’s product focus encompasses prevention, diagnosis and treatment of economically important bovine diseases.
The company today announced the results of its operations for the fourth quarter and year ended December 31, 2010. In the fourth quarter, ImmuCell’s product sales increased by 9 percent compared to the prior year to $1.123 million. For the year ended December 31, 2010, product sales for ImmuCell fell by 3 percent as compared to last year to $4.386 million.
The company’s net loss in the fourth quarter was $128,000, or $0.04 a share. This compares to a loss of $15,000, or $0.01 a share, in the same period in 2009. For the year, ImmuCell showed a 2010 loss of $385,000, or $0.13 a share. In comparison, the loss last year came in at $216,000, or $0.07 a share. Much of the losses stems from the company’s heavy investment into Mast Out – a treatment for mastitus. This disease is a persistent, inflammatory reaction of the udder tissues in cows.
Despite the losses, the management of ImmuCell remains positive. The company’s president and CEO, Michael Brigham, commented, “A 13% increase in sales of First Defense ( a protection against calf scours) during the fourth quarter of 2010 over the fourth quarter of 2009 gives us some optimism that we may be turning the corner for the better in what has been a very difficult dairy economy since 2008.”
For further information about ImmuCell, please visit the company’s website at www.immucell.com