VAUDREUIL-DORION, QUEBEC -- (Marketwired) -- 06/14/13 -- Immunotec Inc. (TSX VENTURE: IMM), a Canadian based company and a leader in the wellness industry (the "Company" or "Immunotec"), today released its second quarter 2013 financial results for the three- and six- month periods ended 30 April 2013.
"Immunotec's results are testimony to our founders' vision for bringing improved health and wellness to our product and opportunity customers. We thank our independent consultants, employees and external partners who collaborate every day to make this possible." said Mr. Charles L. Orr, Immunotec's Chief Executive Officer.
Highlights for the second quarter of fiscal 2013
-- Total Revenue for the three-month period reached $12.6M, an increase of 10.6% as compared to the same period in the previous year. Total revenue in the six-month period reached $24.8M, an increase of 10.4% as compared to the same period in the previous year.-- Network sales in the three-month period reached $11.2M, an increase of 9.0% as compared to the same period in the previous year. Network sales in the six- month period reached $22.4M, an increase of 10.7% as compared to the same period in the previous year.-- Selected expenses,(1) defined as administrative, marketing and selling, quality and development expenses in the three-month period ended 30 April 2013, amounted to $3.0M or 23.9% of total revenues, which compares favourably to 24.6% for the same period in the previous year. In the six-month period, these expenses amounted to $5.9M or 23.9% of total revenues, also comparing favourably to 25.9% the same period of the previous year.-- Adjusted EBITDA,(1) in the three-month period ended 30 April 2013 improved to $0.9M or 7.4% of total revenues, compared to $0.2M or 1.6% of total revenues for the same period in the previous year, a significant improvement. For the six-month period, Adjusted EBITDA(1) amounted to $1.8M or 7.1% of total revenues, also a significant improvement.-- Net profit for the three-month period ended 30 April 2013 amounted to $0.7M; a significant improvement over a net loss of $0.1M for the same period in the previous year. For the six-month period ended 30 April 2013, net profit amounted to $1.2M, also a significant improvement over a loss of $0.1M in the same period in the previous year.(1) Refer to the non-GAAP financial measures section of Management's Discussion and Analysis.
About Immunotec Inc.
Immunotec is a world-class business opportunity supported by unique, scientifically proven products that improve wellness. Headquartered with manufacturing facilities near Montreal, Canada, the Company also has distribution capacities to support its commercial activities in Canada and internationally to the United States, Mexico, Europe and the Caribbean.
The Company files its consolidated financial statements, its management and discussion analysis report, its press releases and such other required documents on the SEDAR database at www.sedar.com and on the Company's website at www.immunotec.com. The common shares of the Company are listed on the TSX Venture Exchange under the ticker symbol IMM.