Integrated BioPharma Announces Financial Results for Quarter and Fiscal Year Ended June 30, 2024

HILLSIDE, NJ – Integrated BioPharma, Inc. (OTCQX:INBP) has released its financial results for the quarter and fiscal year ending June 30, 2024. The company reported a decrease in revenue for the quarter to $12.7 million, down from $13.0 million in the same quarter the previous year, a decrease of 2.3%. Operating income for the quarter increased to approximately $402,000 from $79,000 in the previous year.

For the fiscal year, revenue slightly declined to $50.3 million, compared to $50.7 million the prior year, representing a 0.7% decrease. However, operating income showed improvement, rising to $0.3 million from $0.1 million the previous fiscal year.

The company's net income for the quarter was approximately $0.3 million or $0.01 per share, compared to $40,000 or $0.00 per share in the same quarter of 2023. For the fiscal year, net income stood at $112,000 or $0.00 per share, a notable improvement from a net loss of $34,000 or $0.00 per share the previous year.

Co-CEOs Riva Sheppard and Christina Kay noted that revenue from their two largest customers remained consistent, representing about 90% of total revenue. They emphasized a focus on core businesses and expressed enthusiasm about new prospects in contract manufacturing and warehousing and distribution.