Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Integrated BioPharma Reports Results for its Quarter Ended September 30, 2021 By: Integrated BioPharma, Inc. via AccessWire November 10, 2021 at 16:45 PM EST HILLSIDE, NJ / ACCESSWIRE / November 10, 2021 / Integrated BioPharma, Inc. (OTCQX:INBP) (the "Company" or "INBP") reports its financial results for the quarter ended September 30, 2021.Revenue for the quarter ended September 30, 2021 was $12.8 million compared to $15.2 million for the quarter ended September 30, 2020, a decrease of $2.4 million or 16.0%. The Company had operating income for the quarter ended September 30, 2021 of $0.6 million compared to operating income of $1.5 million for the quarter ended September 30, 2020.For the quarter ended September 30, 2021, the Company had net income of $0.5 million or $0.02 per share of common stock, compared with net income of $1.0 million or $0.04 per share of common stock for the quarter ended September 30, 2020. The Company's diluted net income per share of common stock for the quarters ended September 30, 2021 and 2020 were $0.02 and $0.03 per share of common stock, respectively."While our revenue decreased by approximately 16% in the quarter ended September 30, 2021 from the prior quarter ended September 30, 2020, our revenue from our two largest customers in our Contract Manufacturing Segment remained consistent; representing approximately 91% and 92% of total revenue in the quarters ended September 30, 2021 and 2020, respectively," stated the Co-Chief Executive Officers of the Company, Riva Sheppard and Christina Kay. "Revenues in the quarter ended September 30, 2020 were higher than then the quarter ended September 30, 2021 due to increased safety stock and consumer demands required by our customers during the height of the COVID-19 pandemic. We also believe the fear of slowdowns in production due to the pandemic were contributing factors in our three- month revenues ended September 30, 2020", the Co-CEO's further stated.A summary of our financial results for the three months ended September 30, 2021 and 2020 follows:INTEGRATED BIOPHARMA, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF INCOME(In thousands, except share and per share amounts)(unaudited) Three Months Ended September 30, 2021 2020 Total revenue $12,751 $15,172 Cost of sales 11,327 12,799 Gross profit 1,424 2,373 Selling and administrative expenses 839 864 Operating income 585 1,509 Other expense, net (1) (46) (41) Income before income taxes 539 1,468 Income tax expense, net 23 427 Net income $516 $1,041 Net income per common share: Basic $0.02 $0.04 Diluted $0.02 $0.03 Weighted average common shares outstanding: Basic 29,817,919 29,645,943 Diluted 32,599,896 31,713,076 (1) Includes interest expense of $32 and $76, respectively.About Integrated BioPharma Inc. (INBP)Integrated BioPharma, Inc. is engaged primarily in manufacturing, distributing, marketing and sales of vitamins, nutritional supplements and herbal products. Further information is available at www.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 developments in the nutraceutical market and related products and services, risks associate with the outbreak and continuing spread of COVID-19, the Company's ability to maintain the qualitative and quantitative qualifications for continued inclusion on the OTCQX Best Market 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, CFOIntegrated BioPharma, Inc.investors@ibiopharma.co888.319.6962SOURCE: Integrated BioPharma, Inc.View source version on accesswire.com: https://www.accesswire.com/672235/Integrated-BioPharma-Reports-Results-for-its-Quarter-Ended-September-30-2021 Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Integrated BioPharma Reports Results for its Quarter Ended September 30, 2021 By: Integrated BioPharma, Inc. via AccessWire November 10, 2021 at 16:45 PM EST HILLSIDE, NJ / ACCESSWIRE / November 10, 2021 / Integrated BioPharma, Inc. (OTCQX:INBP) (the "Company" or "INBP") reports its financial results for the quarter ended September 30, 2021.Revenue for the quarter ended September 30, 2021 was $12.8 million compared to $15.2 million for the quarter ended September 30, 2020, a decrease of $2.4 million or 16.0%. The Company had operating income for the quarter ended September 30, 2021 of $0.6 million compared to operating income of $1.5 million for the quarter ended September 30, 2020.For the quarter ended September 30, 2021, the Company had net income of $0.5 million or $0.02 per share of common stock, compared with net income of $1.0 million or $0.04 per share of common stock for the quarter ended September 30, 2020. The Company's diluted net income per share of common stock for the quarters ended September 30, 2021 and 2020 were $0.02 and $0.03 per share of common stock, respectively."While our revenue decreased by approximately 16% in the quarter ended September 30, 2021 from the prior quarter ended September 30, 2020, our revenue from our two largest customers in our Contract Manufacturing Segment remained consistent; representing approximately 91% and 92% of total revenue in the quarters ended September 30, 2021 and 2020, respectively," stated the Co-Chief Executive Officers of the Company, Riva Sheppard and Christina Kay. "Revenues in the quarter ended September 30, 2020 were higher than then the quarter ended September 30, 2021 due to increased safety stock and consumer demands required by our customers during the height of the COVID-19 pandemic. We also believe the fear of slowdowns in production due to the pandemic were contributing factors in our three- month revenues ended September 30, 2020", the Co-CEO's further stated.A summary of our financial results for the three months ended September 30, 2021 and 2020 follows:INTEGRATED BIOPHARMA, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF INCOME(In thousands, except share and per share amounts)(unaudited) Three Months Ended September 30, 2021 2020 Total revenue $12,751 $15,172 Cost of sales 11,327 12,799 Gross profit 1,424 2,373 Selling and administrative expenses 839 864 Operating income 585 1,509 Other expense, net (1) (46) (41) Income before income taxes 539 1,468 Income tax expense, net 23 427 Net income $516 $1,041 Net income per common share: Basic $0.02 $0.04 Diluted $0.02 $0.03 Weighted average common shares outstanding: Basic 29,817,919 29,645,943 Diluted 32,599,896 31,713,076 (1) Includes interest expense of $32 and $76, respectively.About Integrated BioPharma Inc. (INBP)Integrated BioPharma, Inc. is engaged primarily in manufacturing, distributing, marketing and sales of vitamins, nutritional supplements and herbal products. Further information is available at www.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 developments in the nutraceutical market and related products and services, risks associate with the outbreak and continuing spread of COVID-19, the Company's ability to maintain the qualitative and quantitative qualifications for continued inclusion on the OTCQX Best Market 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, CFOIntegrated BioPharma, Inc.investors@ibiopharma.co888.319.6962SOURCE: Integrated BioPharma, Inc.View source version on accesswire.com: https://www.accesswire.com/672235/Integrated-BioPharma-Reports-Results-for-its-Quarter-Ended-September-30-2021