Friday, September 18, 2015

Immunotec Reports Growth - U.S. Sales Increase 31%.

“Our Company improved its profitability significantly during the first nine-month period of this fiscal year”, said Charles L. Orr, Chief Executive Officer of Immunotec. “During the 3rd quarter, we were pleased to increase our presence in the United States, the largest Direct Selling market in the world”,
added Mr. Orr.

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VAUDREUIL-DORION, QC, September 17, 2015 – Immunotec Inc. (TSXV: IMM), a direct-to-consumer company and a leader in the nutritional industry (the “Company” or “Immunotec”), today announced its consolidated financial results for the third quarter of Fiscal 2015. All amounts in this press release are denominated in Canadian dollars unless otherwise indicated.

... In the United States, the increase in network sales is the result of an increase in the sponsoring1 of new consultants and customers. For the three and nine-month periods ended July 31, 2015, the number of new independent consultants and customers in the United States increased by 37.0% and 31.1% compared to the corresponding periods in the previous year. This increase primarily reflects the Company’s continued success in attracting customers and independent consultants throughout the United States. To support this growth, the Company opened a satellite office in California in October 2014.

Adjusted EBITDA1 for the three- and nine-month periods ended July 31, 2015 amounted to $1.5M or 6.7% and $4.0M or 6.7% of revenues compared to $1.7M or 7.5% and $3.8M or 6.7% in the same periods the previous year. For the nine-month periods, the Adjusted EBITDA1 was relatively stable at 6.7% of total revenues and recording a 4% increase over the prior year.

Net profit for the three- and nine-month periods ended July 31, 2015, totalled $1.2M and $2.3M as compared to a loss of $4.3M and $2.7M in the corresponding periods in the previous year

Click here to read the Press Release