ImmuCell Corporation (ICCC) has reported 29.20 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $0.58 million, or $0.12 a share in the quarter, compared with $0.45 million, or $0.11 a share for the same period last year. Revenue during the quarter grew 18.69 percent to $3.54 million from $2.99 million in the previous year period. Gross margin for the quarter expanded 185 basis points over the previous year period to 60.72 percent. Total expenses were 74.10 percent of quarterly revenues, down from 76.59 percent for the same period last year. This has led to an improvement of 249 basis points in operating margin to 25.90 percent.
Operating income for the quarter was $0.92 million, compared with $0.70 million in the previous year period.
“During the period when demand outpaced our production capacity, we were forced to allocate product to customers, and more product was allocated to domestic distributors,” commented Michael F. Brigham, President and Chief executive officer. “With our production capacity expanded, international demand now has been fully met.”
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
