Portland-based ImmuCell Corp. reported second-quarter revenue of $2.7 million, down from $3 million a year earlier, and a net loss of $627,000, or 9 cents per share.

The quarterly revenue decline of 10 percent from a year earlier was the result of a temporary shortage in early 2018 that led to a large amount of product ordered during the first quarter of that year not being shipped until the second quarter, according to company president and CEO Michael Brigham.

“Total product sales increased by $1.2 million, or 21 percent, during the first half of 2019 over the first half of 2018,” Brigham said in a prepared statement. “We are growing and investing in infrastructure to fuel future growth.”

ImmuCell, which develops and sells natural products that improve the health and productivity of dairy and beef cattle, reported first-quarter revenue of $4.4 million, up 53 percent from $2.9 million in the first quarter of 2018.

Brigham attributed ImmuCell’s second-quarter net loss to quarterly product development expenses of $820,000 to increase capacity of its flagship product, First Defense, and to bring the formulation and filling of syringes in house for another product called Re-Tain.

ImmuCell’s most recent quarterly net loss was 18 percent less than the $762,000 net loss it experienced in the second quarter of 2018.

ImmuCell stock trades on the Nasdaq Stock Market under the symbol ICCC. Company shares were trading at $6.00 each as of noon Tuesday, practically unchanged from the previous day’s closing price of $6.02.


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