ImmuCell Corp (ICCC), a maker of products that improve animal health and productivity, on Wednesday said it now expects second-quarter product sales to increase 25% to 30%, from the previously announced anticipated decrease in the range of 15% to 20%.
"This increase in guidance is due primarily to a better-than-expected inventory production schedule allowing us to address a portion of the pent-up demand that is building for First Defense," the company said.
Despite shipping all the First Defense that it can produce, the company still has a backlog of orders waiting to be shipped aggregating about $1.45 million as of June 30.
ImmuCell said it remains on track to complete all of planned manufacturing capacity expansion investments by the first quarter of 2016.
The company expects year-to-date product sales to be approximately 40% higher than the prior year, continues to expect positive year-to-date sales growth throughout 2015.
For comments and feedback contact: editorial@rttnews.com
Business News