HILLSIDE, NJ / ACCESSWIRE / November 13, 2019 / Integrated BioPharma, Inc. (OTC BB:INBP) (the 'Company') reports it financial results for the quarter ended September 30, 2019.
Revenue for the quarter ended September 30, 2019 was $11.4 million compared to $10.3 million for the quarter ended September 30, 2018, an increase of $1.1 million or 10.7%. The Company had operating income for the quarter ended September 30, 2019 of $0.5 million compared to operating income of $0.4 million for the quarter ended September 30, 2018.
For the quarter ended September 30, 2019, the Company had net income and diluted net income of $0.3 million or $0.01 per share of common stock, compared with net income and diluted net income of $0.2 million or $0.01 per share of common stock for the quarter ended September 30, 2018.
'We are excited to report that our revenue increased by approximately 11% in the quarter ended September 30, 2019 and that our revenue from our two significant customers in our Contract Manufacturing Segment remained consistent; representing approximately 91% and 89% of total revenue in the quarters ended September 30, 2019 and 2018, respectively,' said Riva Sheppard, Co-Chief Executive Officer of the Company.
A summary of our financial results for the three months ended September 30, 2019 follows:
INTEGRATED BIOPHARMA, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share amounts)
|Three Months Ended|
Cost of sales
Selling and administrative expenses
Other expense, net (1)
Income before income taxes
Income tax expense, net
Net income per common share:
Weighted average common shares outstanding:
(1) Includes interest expense of $124 and $200, respectively.
SOURCE: Integrated BioPharma, Inc.
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