Fri, Sep 20, 8:45 PM (92 days ago)
Integrated BioPharma, Inc. reported a slight decline in net sales for the fiscal year ending June 30, 2024, totaling $50,317, down from $50,672 in 2023. The decrease was attributed to a drop in sales from its Other Nutraceuticals segment, offset by a modest increase in the Contract Manufacturing segment. The company’s gross profit decreased to $3,884, reflecting a profit margin decline from 8.0% to 7.7%. Operating income improved to $251, up from $120, while net income rose to $112 compared to a loss of $34 in the previous year. Key risk factors include significant customer concentration, as approximately 90% of sales came from two customers, and vulnerability to supply chain disruptions due to geopolitical events. The company has a Senior Credit Facility of $5 million, with no outstanding debt as of June 30, 2024. Management projects that operations and financing will support working capital needs through September 2025. The report highlights ongoing challenges from inflation and labor market pressures, which could impact future sales and margins. The company maintains a cautious outlook, focusing on operational efficiency and customer base expansion.