ProPhase Labs, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 05:30 pm IST
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ProPhase Labs, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 13.22 million compared to USD 29.09 million a year ago. Net loss was USD 3.44 million compared to net income of USD 7.45 million a year ago. Basic loss per share from continuing operations was USD 0.2 compared to basic earnings per share from continuing operations of USD 0.48 a year ago. Diluted loss per share from continuing operations was USD 0.2 compared to diluted earnings per share from continuing operations of USD 0.4 a year ago.
For the six months, sales was USD 32.52 million compared to USD 76.62 million a year ago. Net loss was USD 2.89 million compared to net income of USD 19.94 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to basic earnings per share from continuing operations of USD 1.28 a year ago. Diluted loss per share from continuing operations was USD 0.17 compared to diluted earnings per share from continuing operations of USD 1.07 a year ago.
ProPhase Labs, Inc. is a biopharma, genomics, and diagnostics company. The Company provides whole genome sequencing solutions, while developing potential diagnostics and therapeutics in the fight against cancer. This includes a potentially life-saving cancer test focused on early detection of esophageal cancer and potential breakthrough cancer therapeutics with novel mechanisms of action. Its segments include diagnostic services and consumer products. The diagnostic services segment provides COVID-19 diagnostic information services to a broad range of customers in the United States, including health plans, third party payers and government organizations. The consumer products segment is engaged in the research, development, manufacture, distribution, marketing and sale of over-the-counter consumer healthcare products and dietary supplements in the United States and also provides personal genomics products and services. Its CLIA labs and diagnostic technology provide wellness solutions.