Immunotec Inc. (IMM), a direct-to-consumer company and a leader in the nutritional industry (the Company or Immunotec), today announced its consolidated financial results for the second quarter of Fiscal 2015. All amounts in this press release are denominated in Canadian dollars unless otherwise indicated.
During the 2nd quarter, the Company welcomed nearly 4,000 Consultants and guests to conventions and other meetings in Canada, the United States and Mexico to learn about new products and programs and be recognized for their personal and team accomplishments, said Charles L. Orr, Chief Executive Officer of Immunotec. We have set the stage for growth during the Spring and Summer months, added Mr. Orr.
DEVELOPMENTS DURING THE PERIOD
- November 2014 – Immunotec and Institut de recherches cliniques de Montreal (IRCM) announced clinical results, published in the JOURNAL OF NUTRITION HEALTH AND AGING, showing that Immunocal imparted a performance benefit of approximately 10% in a model of resistance exercise in an elderly population of between 65 to 88 years. The results are very important in the context of healthy aging, as this process is typically associated with a decrease in muscle strength which comprises quality of life in later years.
- February and March 2015 – Immunotec hosted 3 conventions and used this opportunity to launch 2 new products addressing demand in the skin care market for Mexico and the renewing cartilage or healthy joints market for Canada and the United States.
- April 2015 – Immunotec was ranked 97th on the Direct Selling News sixth annual DSN Global 100 list. This list is an exclusive ranking of the top revenue-generating companies in the direct selling industry worldwide.
- May 2015 – Immunotec announced that Health Canada granted a new health claim specific to Immunocal's ability to help increase muscle strength and enhance performance when combined with regular exercise. These milestones are the fruition of over four decades of research at leading university hospitals in Canada and abroad.
- May 2015 – Immunotec welcomes Dr. Ronald Prussick, MD, FRCP Copyright as a distinguished member of the Immunotec Scientific Advisory Board. Dr. Prussick currently serves as the medical director of The Washington Dermatology Center and Assistant Clinical Professor at George Washington University in Washington, DC. He will work with the Immunotec Product Development Committee (PDC) playing an integral role in the development of the new all- natural skin care line.
Revenues for the three- and six-month periods ending April 30, 2015 reached $20.0M and $37.9M compared to $19.1M and $35.2M in the previous year, an increase of $0.9M or 4.8% and $2.7M or 7.6%. This growth was generated mostly by increased sales in the United States.
The recent volatility in currencies is causing businesses worldwide to review their supply chain strategies, said Mr. Patrick Montpetit, Chief Financial Officer. Subsequent to the end of April, we secured additional financing to support strengthening our supply chain.
Adjusted EBITDA(1) for the three- and six-month periods ended April 30, 2015 amounted to $1.4M or 7.0% and $2.5M or 6.6% of revenues compared to $1.4M or 7.4% and $2.2M or 6.2% in the same period the previous year.
Net profit for the three- and six-month periods ended April 30, 2015 was $0.3M and $1.2M compared to $0.8M and $1.5M for the same period in the previous year.
About Immunotec Inc.
Immunotec is a Canadian-based company that develops, manufactures, markets and sells research-driven nutritional products through direct-to-consumer sales channels primarily in Canada, the U.S. and Mexico. The Company offers an extensive family of nutritional products targeting health, wellness, weight management, as well as energy and performance. The Immunocal family of products is supported by over 40 published articles and supporting science in medical and scientific literature.
Get more information, facts and figures about Immunotec Research, click here for the Immunotec Research overview.