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Integrated BioPharma (INBP) reported financial results for Q3 2024, showing revenue of $13.6 million, a 5.4% increase from $12.9 million in Q3 2023. The company achieved operating income of $0.5 million, compared to a loss of $54,000 in the same period last year. Net income reached $0.3 million ($0.01 per share), improving from a net loss of $59,000 in Q3 2023. The company’s two largest customers in Contract Manufacturing represented 85% of total revenue, down from 91% in 2023, reflecting progress in customer base diversification.
Integrated BioPharma (INBP) ha riportato i risultati finanziari per il terzo trimestre del 2024, evidenziando un fatturato di 13,6 milioni di dollari, un incremento del 5,4% rispetto ai 12,9 milioni di dollari del terzo trimestre del 2023. L’azienda ha registrato un reddito operativo di 0,5 milioni di dollari, rispetto a una perdita di 54.000 dollari nello stesso periodo dell’anno precedente. L’utile netto ha raggiunto 0,3 milioni di dollari (0,01 dollari per azione), in miglioramento rispetto a una perdita netta di 59.000 dollari nel terzo trimestre del 2023. I due principali clienti dell’azienda nel settore della produzione contrattuale hanno rappresentato l’85% del fatturato totale, in calo rispetto al 91% del 2023, riflettendo progressi nella diversificazione della base clienti.
Integrated BioPharma (INBP) reportó los resultados financieros correspondientes al tercer trimestre de 2024, mostrando ingresos de 13,6 millones de dólares, un aumento del 5,4% respecto a los 12,9 millones de dólares en el tercer trimestre de 2023. La empresa alcanzó un ingreso operativo de 0,5 millones de dólares, en comparación con una pérdida de 54.000 dólares en el mismo período del año anterior. El ingreso neto alcanzó 0,3 millones de dólares (0,01 dólares por acción), mejorando desde una pérdida neta de 59.000 dólares en el tercer trimestre de 2023. Los dos principales clientes de la empresa en la Fabricación por Contrato representaron el 85% de los ingresos totales, disminuyendo del 91% en 2023, lo que refleja un progreso en la diversificación de la base de clientes.
Integrated BioPharma (INBP)는 2024년 3분기 재무 결과를 보고하며 1,360만 달러의 수익을 나타냈으며, 이는 2023년 3분기의 1,290만 달러에서 5.4% 증가한 수치입니다. 회사는 50만 달러의 운영 소득을 달성했으며, 이는 작년 동일 기간에 54,000 달러의 손실과 비교되는 수치입니다. 순이익은 30만 달러 (주당 0.01 달러)에 도달하여, 2023년 3분기의 59,000 달러 순손실에서 개선되었습니다. 회사의 계약 제조 부문에서 두 주요 고객은 전체 매출의 85%를 차지했으며, 이는 2023년의 91%에서 감소한 수치로, 고객 기반 다변화의 진전을 반영합니다.
Integrated BioPharma (INBP) a annoncé les résultats financiers du troisième trimestre 2024, affichant un chiffre d’affaires de 13,6 millions de dollars, soit une augmentation de 5,4 % par rapport à 12,9 millions de dollars au troisième trimestre 2023. L’entreprise a réalisé un résultat d’exploitation de 0,5 million de dollars, contre une perte de 54 000 dollars au cours de la même période l’année dernière. Le bénéfice net a atteint 0,3 million de dollars (0,01 dollar par action), s’améliorant par rapport à une perte nette de 59 000 dollars au troisième trimestre 2023. Les deux plus grands clients de l’entreprise dans le secteur de la fabrication sous contrat ont représenté 85 % du chiffre d’affaires total, contre 91 % en 2023, ce qui reflète des progrès dans la diversification de la base de clients.
Integrated BioPharma (INBP) berichtete über die finanziellen Ergebnisse für das dritte Quartal 2024 und zeigte Einnahmen von 13,6 Millionen Dollar, was einem Anstieg von 5,4% im Vergleich zu 12,9 Millionen Dollar im dritten Quartal 2023 entspricht. Das Unternehmen erzielte ein Betriebsergebnis von 0,5 Millionen Dollar, im Vergleich zu einem Verlust von 54.000 Dollar im gleichen Zeitraum des Vorjahres. Der Nettoertrag erreichte 0,3 Millionen Dollar (0,01 Dollar pro Aktie) und verbesserte sich im Vergleich zu einem Nettoverlust von 59.000 Dollar im dritten Quartal 2023. Die beiden größten Kunden des Unternehmens im Bereich der Vertragsfertigung machten 85% des Gesamteinkommens aus, was einem Rückgang von 91% im Jahr 2023 entspricht und Fortschritte bei der Diversifizierung der Kundenbasis widerspiegelt.
Positive
- Revenue increased by 5.4% YoY to $13.6 million
- Turned operating loss into $0.5 million operating profit
- Achieved net income of $0.3 million vs previous year’s loss
- Improved customer diversification, reducing top-2 customer concentration from 91% to 85%
- Gross profit increased from $832,000 to $1.37 million
Negative
- High customer concentration with 85% of revenue from top-2 customers
- Increased income tax expense from $13,000 to $245,000
HILLSIDE, NJ / ACCESSWIRE / November 13, 2024 / Integrated BioPharma, Inc. (OTCQX:INBP) (the “Company” or “INBP”) reports its financial results for the quarter ended September 30, 2024.
Revenue for the quarter ended September 30, 2024 was $13.6 million compared to $12.9 million for the quarter ended September 30, 2023, an increase of $0.7 million or approximately 5.4%. The Company had operating income for the quarter ended September 30, 2024 of approximately $0.5 million compared to an operating loss of approximately $54,000 for the quarter ended September 30, 2023.
For the quarter ended September 30, 2024, the Company had net income of approximately $0.3 million or $0.01 per share of common stock, compared with a net loss of $59,000 or $0.00 per share of common stock for the quarter ended September 30, 2023. The Company’s diluted net income (loss) per share of common stock for the quarters ended September 30, 2024 and 2023 were $0.01 and $0.00 per share of common stock, respectively.
“Our revenue increased by approximately 5% in the quarter ended September 30, 2024 from the quarter ended September 30, 2023 and our revenue from our two largest customers in our Contract Manufacturing Segment represented approximately 85% and 91% of total revenue in the quarters ended September 30, 2024 and 2023, respectively,” stated the Co-Chief Executive Officers of the Company, Riva Sheppard and Christina Kay. “Our goal of diversifying our customer base is reflected in our September quarter numbers from 91% in 2023 to 85% in 2024. We hope to continue this trend as well as grow with our current customers,” the Co-CEOs further stated.
A summary of our financial results for the three months ended September 30, 2024 and 2023 follows:
INTEGRATED BIOPHARMA, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share amounts)
(unaudited)
|
Three Months Ended |
||||||||
|
September 30, |
||||||||
|
2024 |
2023 |
|||||||
|
Total revenue |
$ |
13,617 |
$ |
12,915 |
||||
|
Cost of sales |
12,246 |
12,083 |
||||||
|
Gross profit |
1,371 |
832 |
||||||
|
Selling and administrative expenses |
881 |
886 |
||||||
|
Operating income (loss) |
490 |
(54 |
) |
|||||
|
Interest income, net |
14 |
8 |
||||||
|
Income (loss) before income taxes |
504 |
(46 |
) |
|||||
|
Income tax expense, net |
245 |
13 |
||||||
|
Net income (loss) |
$ |
259 |
$ |
(59 |
) |
|||
|
Basic net income (loss) per common share |
$ |
0.01 |
$ |
(0.00 |
) |
|||
|
Diluted net income (loss) per common share |
$ |
0.01 |
$ |
(0.00 |
) |
|||
|
Weighted average common shares outstanding -basic |
30,099,610 |
29,965,914 |
||||||
|
Weighted average common shares outstanding -diluted |
30,649,977 |
29,965,914 |
||||||
About Integrated BioPharma Inc. (INBP)
Integrated BioPharma, Inc. (“INBP”) is engaged primarily in the business of manufacturing, distributing, marketing and sales of vitamins, nutritional supplements and herbal products. Further information is available at ir.ibiopharma.com.
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, as well as assumptions, that, if they never materialize or prove incorrect, could cause the results of INBP to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements generally are identified by the words “expects,” “anticipates,” believes,” intends,” “estimates,” “should,” “would,” “strategy,” “plan” and similar expressions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements and are not guarantees of future performance. Such statements speak only as of the date hereof, are subject to change and should not be relied upon for investment purposes. INBP undertakes no obligation to revise or update any statements for any reasons. The risks, uncertainties and assumptions include, among others, changes in general economic and business conditions; loss of market share through competition; introduction of competing products by other companies; the timing of regulatory approval and the introduction of new products by INBP; changes in industry capacity; pressure on prices from competition or from purchasers of INBP’s products; regulatory changes in the pharmaceutical manufacturing industry and nutraceutical industry; regulatory obstacles to the introduction of new technologies or products that are important to INBP; availability of qualified personnel; the loss of any significant customers or suppliers; inflation and the tightened labor markets; the impact of the war in Ukraine; the impact of the Israel-Hamas war; the threat of an East Coast port strike; our ability to expand our customer base and other risks and uncertainties described in the section entitled “Risk Factors” in INBP’s most recent Annual Report on Form 10-K and its subsequent Quarterly Reports on Form 10-Q. Accordingly, INBP cannot give assurance that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of INBP.
Contact: Dina Masi, CFO
Integrated BioPharma, Inc.
investors@ibiopharma.com
888.319.6962
SOURCE: Integrated BioPharma, Inc.
View the original press release on accesswire.com
FAQ
What was INBP’s revenue growth in Q3 2024?
INBP reported revenue growth of 5.4%, reaching $13.6 million in Q3 2024 compared to $12.9 million in Q3 2023.
How much net income did INBP report for Q3 2024?
INBP reported net income of approximately $0.3 million or $0.01 per share for Q3 2024.
What percentage of INBP’s revenue came from its top two customers in Q3 2024?
INBP’s top two customers in the Contract Manufacturing Segment accounted for approximately 85% of total revenue in Q3 2024.
How did INBP’s operating income change in Q3 2024 compared to Q3 2023?
INBP improved from an operating loss of $54,000 in Q3 2023 to an operating income of $0.5 million in Q3 2024.
