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Integrated Biopharma Inc (INBP) SEC Filing 10-K Annual Report for the fiscal year ending Thursday, June 30, 2022

Integrated Biopharma Inc

CIK: 1016504 Ticker: INBP

 

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NEWS RELEASE for May 12, 2022

 

Contact: Dina Masi, CFO

Integrated BioPharma, Inc.

investors@ibiopharma.com

              888.319.6962

 

 

Integrated BioPharma Reports Results for its Quarter Ended March 31, 2022

 

HILLSIDE, NEW JERSEY (May 12, 2022) - Integrated BioPharma, Inc. ((OTCQX: INBP)) (the “Company” or “INBP”) reports its financial results for the fiscal quarter ended March 31, 2022.

 

Revenue for the three-month period ended March 31, 2022 was $15.6 million compared to $17.1 million, for the three-month period ended March 31, 2021, a decrease of $1.5 million or 8.4%.  The Company had operating income for the three-month periods ended March 31, 2022 and 2021 of $1.0 million and $1.7 million respectively.

 

Revenue for the nine-month period ended March 31, 2022 was $43.0 million compared to $46.5 million for the nine-month period ended March 31, 2021, a decrease of $3.5 million or 7.6%.  The Company had operating income for the nine-month period ended March 31, 2022 of $2.3 million compared to operating income of $4.5 million for the nine-month period ended March 31, 2021.

 

For the three-month period ended March 31, 2022, the Company had net income of $0.8 million or $0.03 per share of common stock, compared with net income of $1.2 million or $0.04 per share of common stock for the quarter ended March 31, 2021.  The Company’s diluted net income per share of common stock for the three-month periods ended March 31, 2022 and 2021 were $0.03 and $0.04 per share of common stock, respectively.

 

For the nine-month period ended March 31, 2022, the Company had net income of $2.3 million or $0.08 per share of common stock, compared with net income of $3.5 million or $0.12 per share of common stock for the nine months ended March 31, 2021.  The Company’s diluted net income per share of common stock for the nine months ended March 31, 2022 and 2021 were $0.07 and $0.11 per share of common stock, respectively.

 

“While our revenue decreased by approximately 8% in the nine-month period ended March 31, 2022 from nine-month period ended March 31, 2021, our revenue from our two largest customers in our Contract Manufacturing Segment remained consistent; representing approximately 91% and 92% of total revenue in the nine-month periods ended March 31, 2022 and 2021, respectively,” stated the Co-Chief Executive Officers of the Company, Riva Sheppard and Christina Kay.  “Revenue in the nine-month period ended March 31, 2022 was lower than the nine-month period ended March 31, 2021 due to increased safety stock and consumer demands required by our customers during the height of the COVID-19 pandemic.  We also believe the fear of slowdowns in production due to the pandemic were contributing factors in our revenues for the nine-month period ended March 31, 2021”, the Co-CEO’s further stated.

 

 

 

The following information was filed by Integrated Biopharma Inc (INBP) on Thursday, May 12, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Note 1 - Business
Note 10 - Commitments And Contingencies
Note 10 - Commitments And Contingencies (Details Textual)
Note 10 - Commitments And Contingencies (Tables)
Note 10 - Commitments And Contingencies - Lease Expense (Details)
Note 10 - Commitments And Contingencies - Leases And Commitments (Details)
Note 10 - Commitments And Contingencies - Minimum Rental Commitment For Long-Term Non-Cancelable Leases (Details)
Note 10 - Commitments And Contingencies - Supplemental Cash Flow Information (Details)
Note 11 - Related Party Transactions
Note 12 - Equity Transactions And Stock-Based Compensation
Note 12 - Equity Transactions And Stock-Based Compensation (Details Textual)
Note 12 - Equity Transactions And Stock-Based Compensation (Tables)
Note 12 - Equity Transactions And Stock-Based Compensation - Fair Value Of Stock Option Using Black-Scholes Option Pricing Model (Details)
Note 12 - Equity Transactions And Stock-Based Compensation - Share-Based Compensation, Shares Authorized Under Stock Option Plans, By Exercise Price Range (Details)
Note 12 - Equity Transactions And Stock-Based Compensation - Summary Of The Company's Stock Option Activity, And Related Information (Details)
Note 13 - Segment Information
Note 13 - Segment Information (Details Textual)
Note 13 - Segment Information (Tables)
Note 13 - Segment Information And Disaggregated Revenue - Operations By Business Segment (Details)
Note 2 - Summary Of Significant Accounting Policies
Note 2 - Summary Of Significant Accounting Policies (Details Textual)
Note 3 - Inventories
Note 3 - Inventories (Tables)
Note 3 - Inventories - Inventories (Details)
Note 4 - Property And Equipment, Net
Note 4 - Property And Equipment, Net (Details Textual)
Note 4 - Property And Equipment, Net (Tables)
Note 4 - Property And Equipment, Net - Property And Equipment (Details)
Note 5 - Senior Credit Facility And Other Long Term Debt
Note 5 - Senior Credit Facility And Other Long Term Debt (Details Textual)
Note 5 - Senior Credit Facility And Other Long Term Debt (Tables)
Note 5 - Senior Credit Facility And Other Long Term Debt - Debt Outstanding (Details)
Note 6 - Interest Expense
Note 6 - Interest Expense (Details Textual)
Note 6 - Interest Expense (Tables)
Note 6 - Interest Expense - Interest Expense Components (Details)
Note 7 - Income Taxes
Note 7 - Income Taxes (Details Textual)
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes - Components Of The Provision For Income Taxes (Details)
Note 7 - Income Taxes - Reconciliation Of The Statutory Tax Rate To The Effective Tax Rate (Details)
Note 7 - Income Taxes - Significant Components Of Deferred Tax Assets (Details)
Note 8 - Profit-Sharing Plan
Note 8 - Profit-Sharing Plan (Details Textual)
Note 9 - Significant Risks And Uncertainties
Note 9 - Significant Risks And Uncertainties (Details Textual)
Significant Accounting Policies (Policies)
Ticker: INBP
CIK: 1016504
Form Type: 10-K Annual Report
Accession Number: 0001437749-22-022334
Submitted to the SEC: Tue Sep 13 2022 5:00:08 PM EST
Accepted by the SEC: Tue Sep 13 2022
Period: Thursday, June 30, 2022
Industry: Pharmaceutical Preparations

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