Portland’s ImmuCell returns to profitability in latest quarter

Portland-based ImmuCell Corp. reported profits of $155,000 in the most recent quarter, up from a loss in the same period a year ago.

ImmuCell is a small veterinary biotech company with products aimed at the dairy cow market.

The company said in filings Monday that during the three-month period that ended March 31, product sales increased by 10 percent, or $161,000, to $1,717,000 over the same period a year ago.

In the same quarter a year ago, ImmuCell had reported a loss of $23,000.

“A 13 percent increase in sales of our lead product, First Defense, during the first three months of 2012 over the same period in 2011, demonstrates a solid return on our increased investment in sales and marketing,” said President and CEO Michael F. Brigham. “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.”

ImmuCell trades under the symbol ICCC on the NASDAQ-CM.