Integrated Biopharma Inc - INBP STOCK NEWS

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 (OTCQX:INBP) reported its financial results for the quarter and fiscal year ended June 30, 2024. Quarterly revenue was $12.7 million, a 2.3% decrease from $13.0 million in the same period in 2023. Quarterly operating income rose to $402,000 from $79,000. Fiscal year revenue was $50.3 million, down 0.7% from $50.7 million in 2023. Fiscal year operating income increased to $0.3 million from $0.1 million. Quarterly net income was $0.3 million or $0.01 per share, compared to $40,000 or $0.00 per share in the previous year. Fiscal year net income was $112,000 or $0.00 per share, versus a net loss of $34,000 or $0.00 per share last year. The company highlighted consistent revenue from its top two customers in the Contract Manufacturing Segment, representing 90% and 89% of total revenue in 2024 and 2023, respectively. The Co-CEOs expressed optimism about new prospects in contract manufacturing and warehousing and distribution.

Integrated BioPharma, Inc. reports its financial results for the quarter ended March 31, 2024. Revenue remained stable between 2023 and 2024 at $13.1 million. The Company experienced an operating income increase from $44,000 to $0.4 million in the same period. However, for the nine-month period, revenue decreased slightly by 0.3% to $37.6 million, with an operating loss of $0.2 million compared to operating income of $41,000 in the previous year. Net income per share rose to $0.01 from $0.00 in the quarter ended March 31, 2023, but the nine-month period saw a net loss of $0.2 million compared to $74,000 in the previous year. The Company aims to reduce reliance on two major customers in the future.

Integrated BioPharma, Inc. reports a decrease in revenue for the quarter and six-month period ended December 31, 2023 compared to the same periods in 2022. Operating losses have increased for the quarter but decreased for the six-month period. The Company also experienced a higher net loss per share in 2023. The Co-CEOs aim to reduce reliance on major customers by expanding the customer base.

Integrated BioPharma, Inc. (OTCQX:INBP) reports a 4.9% increase in revenue for the quarter ended September 30, 2023, with operating loss of $54,000. Net loss for the same period was $59,000 or $0.00 per share of common stock. The company's two largest customers in the Contract Manufacturing Segment represented approximately 91% and 85% of total revenue in the quarters ended September 30, 2023 and 2022, respectively.

Integrated BioPharma reports financial results for Q2 and FY 2023. Revenue for Q2 2023 decreased by 2.3% compared to Q2 2022. Operating income for Q2 2023 was $79,000, a decrease from $438,000 in Q2 2022. Revenues for FY 2023 decreased by 9.8% compared to FY 2022. Operating income for FY 2023 was $120,000, a decrease from $2.7 million in FY 2022. Net income for Q2 2023 was $40,000, a decrease from $1.5 million in Q2 2022. Net loss for FY 2023 was $34,000, a decrease from net income of $3.8 million in FY 2022.

HILLSIDE, NJ / ACCESSWIRE / March 21, 2023 / Integrated BioPharma, Inc. (OTCQX:INBP) announced the passing of its Founder, Executive Chairman, and President, Edward G. Kay, at age 86. The Board expressed deep sadness over his loss, recognizing him as a visionary leader in the nutraceutical sector. The roles of president, director, and chairman are currently vacant as the Board plans to convene to appoint a new chairperson. Integrated BioPharma focuses on manufacturing and distributing vitamins and nutritional supplements. The Company warned that its future performance might be affected by the uncertainty following this leadership change.

Integrated BioPharma (INBP) reported financial results for the quarter ending December 31, 2022, with revenue of $12.3 million, down 15.6% from $14.6 million in 2021. The six-month revenue also declined to $24.6 million from $27.3 million, a 9.9% decrease. Operating income shifted to a loss of approximately $33,000 compared to $0.7 million income in the prior year. The company recorded a net loss of $55,000 or $0.00 per share, contrasting with a net income of $1.0 million or $0.04 per share for the same quarter in 2021. Key customers remained stable, contributing over 90% of total revenue. Issues like pandemic overstocking were cited as causes for revenue decline.