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A Portland-based maker of bovine health products for the dairy and beef industries reported record sales of $4.9 million for the first quarter, up 11 percent from a year earlier, the Portland Press Herald reports.
ImmuCell, which is currently expanding its production facilities because of increased demand, reported a net loss for the quarter of $122,000, or 2 cents per share. A year earlier, the company reported net income of $145,000, or 3 cents per share.
“This record sales pace is fueling our intensity to adapt so we can better serve our markets despite the challenging circumstances,” ImmuCell President and CEO Michael Brigham in a news release.
Brigham noted that concerns about the coronavirus have required the company to make some changes within its manufacturing facilities, the Press Herald reports.
ImmuCell stock trades on the Nasdaq stock exchange under the symbol ICCC. The company’s stock was priced at $4.32 per share at market close on Wednesday, down 2 cents per share from the previous day’s closing price.
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