ImmuCell Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 22, 2022 at 02:36 am IST
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ImmuCell Corporation reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net loss was USD 0.655078 million compared to net income of USD 0.147764 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to basic earnings per share from continuing operations of USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to diluted earnings per share from continuing operations of USD 0.02 a year ago.
For the nine months, net loss was USD 0.825939 million compared to USD 0.152426 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.11 compared to USD 0.02 a year ago.
ImmuCell Corporation is an animal health company. The Company is engaged in the development, acquisition, manufacture, and sale of products that improve the health and productivity of dairy and beef cattle. It operates in two business segments: Scours and Mastitis. The Scours segment is engaged in manufacturing and selling First Defense, a product used to prevent scours in newborn calves, which is regulated by the United States Department of Agriculture (USDA). The Mastitis segment is focused on developing and commercializing Re-Tain, a product to treat subclinical mastitis in lactating dairy cows. The First Defense product line provides bovine antibodies that newborn calves need but are unable to produce on their own immediately after birth. Its product line extension, Tri-Shield First Defense, is the first calf-level, passive antibody product providing Immediate Immunity against each of the three causes of calf scours (E. coli, coronavirus, and rotavirus).