Integrated BioPharma Reports Results for its Quarter Ended December 31, 2024
Rhea-AI Summary
Integrated BioPharma (OTCQX:INBP) reported financial results for Q4 2024, showing improved performance. Revenue increased by 9.6% to $12.6 million compared to $11.5 million in Q4 2023. The company turned around from an operating loss of $0.5 million in Q4 2023 to an operating income of $0.2 million in Q4 2024.
For the six-month period ended December 31, 2024, revenue grew 7.4% to $26.2 million, with operating income of $0.7 million compared to a loss of $0.5 million in the same period of 2023. Net income per share improved to $0.01 from a loss of $(0.02) in the comparable period. The company's two largest customers in the Contract Manufacturing Segment accounted for 82% of total revenue, down from 90% in the previous year, indicating successful customer base expansion.
Positive
- Revenue increased 9.6% YoY to $12.6 million in Q4 2024
- Turned operating loss into $0.2 million operating profit in Q4 2024
- Six-month revenue grew 7.4% to $26.2 million
- Customer concentration reduced from 90% to 82%, showing successful diversification
- Achieved net income of $0.4 million for six months vs previous loss of $0.4 million
Negative
- High customer concentration with 82% of revenue from two customers
- Minimal earnings per share at $0.01 for six months
News Market Reaction 1 Alert
On the day this news was published, INBP declined 15.48%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
HILLSIDE, NJ / ACCESS Newswire / February 13, 2025 / Integrated BioPharma, Inc. (OTCQX:INBP) (the "Company" or "INBP") reports its financial results for the quarter ended December 31, 2024.
Revenue for the quarter ended December 31, 2024 was
Revenue for the six-month period ended December 31, 2024 was
For the quarters ended December 31, 2024 and 2023, the Company had net income of
For the six-month periods ended December 31, 2024 and 2023, the Company had net income of
"Our revenues increased by
A summary of our financial results for the three months and six months ended December 31, 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 |
|
| Six Months Ended |
| ||||||||||
|
| December 31, |
|
| December 31, |
| ||||||||||
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Total revenue |
| $ | 12,614 |
|
| $ | 11,509 |
|
| $ | 26,231 |
|
| $ | 24,424 |
|
Cost of sales |
|
| 11,443 |
|
|
| 10,989 |
|
|
| 23,689 |
|
|
| 23,072 |
|
Gross profit |
|
| 1,171 |
|
|
| 520 |
|
|
| 2,542 |
|
|
| 1,352 |
|
Selling and administrative expenses |
|
| 969 |
|
|
| 972 |
|
|
| 1,850 |
|
|
| 1,858 |
|
Operating income (loss) |
|
| 202 |
|
|
| (452 | ) |
|
| 692 |
|
|
| (506 | ) |
Other income (expense), net |
|
| (17 | ) |
|
| - |
|
|
| (3 | ) |
|
| 8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Income (loss) before income taxes |
|
| 185 |
|
|
| (452 | ) |
|
| 689 |
|
|
| (498 | ) |
Income tax expense (benefit), net |
|
| 69 |
|
|
| (70 | ) |
|
| 314 |
|
|
| (57 | ) |
Net income (loss) |
| $ | 116 |
|
| $ | (382 | ) |
| $ | 375 |
|
| $ | (441 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
| $ | 0.00 |
|
| $ | (0.01 | ) |
| $ | 0.01 |
|
| $ | (0.02 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted |
| $ | 0.00 |
|
| $ | (0.01 | ) |
| $ | 0.01 |
|
| $ | (0.02 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
| 30,174,664 |
|
|
| 30,099,610 |
|
|
| 30,137,137 |
|
|
| 30,032,762 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted |
|
| 31,303,011 |
|
|
| 30,099,610 |
|
|
| 30,810,401 |
|
|
| 30,032,762 |
|
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, including inflationary pressures from any tariffs, and the tightened labor markets; the impact of the war in Ukraine; the impact of the Israel-Hamas war; 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 ACCESS Newswire
FAQ
What was INBP's revenue growth in Q4 2024?
How much did INBP earn per share in the six months ended December 31, 2024?
What percentage of INBP's revenue came from its top two customers in 2024?
How did INBP's operating income change in Q4 2024 compared to Q4 2023?
What was INBP's total revenue for the six months ended December 31, 2024?
