NEW YORK, August 6, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on ImmuCell Corp. (NASDAQ: ICCC). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=ICCC
Highlights from our ICCC Report include:
- Revised Sales Guidance - On July 08, 2015, ImmuCell Corporation announced that it is improving its product sales forecast guidance for the second quarter of 2015. The Company now expects its product sales to increase in the range of 25% to 30%, in comparison to the second quarter of 2014, from the previously announced anticipated decrease in the range of 15% to 20. This would amount to product sales the range of $1.93 to $2.0 million for Q2 2015, computed on the reported Q2 2014 sales figure of $1.54 million.
- Better than Expected Inventory Production Leads to Upward Revision - Michael F. Brigham, President and CEO of ImmuCell Corporation said that the increase in guidance was primarily due to a better-than-expected inventory production schedule which allows the Company to address a portion of the pent-up demand that is building for First Defense®. He added that despite shipping of all the First Defense® that the Company can produce, it still faces a backlog of orders waiting to be shipped aggregating approximately $1.45 million as of June 30, 2015 vis-a-vis $1.28 million as of March 31, 2015.
- Management Commentary - The CEO said that the Company remains on track to complete all of its planned manufacturing capacity expansion investments by Q1 of fiscal 2016. He further stated that the Company expects year-to-date product sales to be approximately 40% higher than the first six months of 2014 and it continues to expect positive year-to-date sales growth throughout 2015, in comparison to the same periods in 2014.
- Snapshot of the Most Recent Quarter - The Company had reported sales of $3.1 million for Q1 FY15 up 49% on a y-o-y basis. It was the Company's eleventh consecutive quarter of positive sales growth. During Q1, sales of First Defense® had come in at $2.98 million, surpassing 15 million units since the product was launched by the Company in 1991. Net income for Q1 was $0.48 million or 15 cents per diluted share.
- Q2 FY14 Summary - During second quarter of the previous fiscal, the Company had generated $1.54 million in product sales, thereby clocking a growth of 13% on a y-o-y basis. It was the Company's eight consecutive quarter of sales growth. The growth in product sales was driven by increased acceptance of the Company's First Defense® product line for the prevention of calf scours. Gross margins for Q2 FY14 were reported to be 57% of product sales.
To find out how this influences our rating on ImmuCell Corp. read the full report in its entirety here: http://www.aciassociation.com/?c=ICCC
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