Integrated BioPharma, Inc. (AMEX:INB), Hillside, N.J., has reported
financial results for its fiscal year ended June 30, 2006. Revenues were
$57.8 million, an increase of approximately 77% or $25.1 million from
$32.7 million for the fiscal year ended June 30, 2005. The increase in
sales is primarily attributable to increased sales of their branded
proprietary nutraceutical products.
Operating income for the fiscal year ended June 30, 2006 increased
by $16.2 million to $5.1 million compared to an operating loss of
($11.1) million for the fiscal year ended June 30, 2005. Net income
applicable to common shareholders for the fiscal year ended June 30,
2006 was $5.5 million, or $0.34 per diluted share, compared with a net
loss applicable to common shareholders of ($11.4) million, or ($0.90)
per diluted share, for the fiscal year ended June 30, 2005, which
included non-recurring income of $2.5 million relating to settlement of
a lawsuit.
Net income (loss) applicable to common shareholders is calculated
after cash Preferred Stock dividends of $482,463 and $490,000 and
non-cash Preferred Stock deemed dividends of $2,399,643 and $2,332,000
for the fiscal years ended June 30, 2006 and 2005, respectively.
E. Gerald Kay, CEO of INB, stated, "We believe the results for
Fiscal 2006 speak for themselves and provide a strong validation of our
strategic plan to continue building the company's proprietary
nutraceutical business."
About Integrated BioPharma, Inc. (INB)
Integrated BioPharma is a unique grouping of companies presently
serving the varied needs of the health care industry. Through its
nutraceutical business, the company creates, develops, manufactures and
markets products worldwide. The company's biotechnology business
uses its patented plant-based technology to produce vaccines and
therapeutic antibodies. Its pharmaceutical business operates a cGMP
facility for the production and sale of Paclitaxel and related drugs and
provides technical services through its contract research organization.
For more information, visit http://www.ibiopharma.com or call
888/319-6962.
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