PORTLAND — ImmuCell Corp., which diagnoses and prevents bovine diseases, posted a profit for the first time in four years amid a jump in sales of its lead product, First Defense.
First Defense reduces deaths in calves by preventing intestinal infections.
ImmuCell said net income totaled $155,000 or 5 cents a share, compared with a loss of $23,000, or 1 cent a share, in the year-ago quarter. Product sales totaled $1.7 million, up from $1.6 million, a year ago.
Sales of First Defense rose 13 percent.
“Based primarily on increased gross margin from sales of First Defense and the anticipated reduction in product development expenditures, we returned to profitable operations for the first time since the first quarter of 2008,” said ImmuCell President and Chief Executive Michael Brigham.
Correction: This story was revised at 3:55 p.m., May 14, 2012, to reflect that ImmuCell’s first-quarter product sales totaled $1.7 million, up from $1.6 million, a year ago.
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