Immunotec Reports Continued Growth in U.S. Sales

Growing U.S. sales sustained third-quarter momentum at Immunotec (IMM—TSX), the nutrition company said in an earnings report released Thursday.

Quebec-based Immunotec posted a 31 percent increase in U.S. sales for the quarter ended July 31, primarily due to a 37 percent jump in new U.S. consultants and customers. By contrast, sponsoring activities in Mexico fell 20.6 percent from a year ago, where the market continues to adjust to a 16 percent value-added tax introduced by Immunotec in October 2014.

Quarterly revenue totaled $16.8 million, comparable to $16.9 million a year ago. In the first three quarters of the year, cumulative revenue increased 4.3 percent versus the same period in 2014.

Adjusted EBITDA also remained flat at $1.1 million, the publicly traded company reported. Net profit was $910,505, compared to a loss of $3.3 million a year ago.

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