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November 13, 2014

United States

New Jersey—Epicore’s Financial Results, First Quarter 2015

 

Epicore, which designs, develops and manufactures innovative and environmentally responsible biotechnology products and animal feeds for shrimp farmers, had revenues of $2.3 million for the first quarter of 2015, 46% higher than last year’s first quarter, setting a new record.  This record follows five previous consecutive quarterly records.  Sales were broad based in all markets.  The high demand for Epicore’s products resulted from shrimp farmers trying to capitalize on record high shrimp prices and from Epicore’s successful marketing programs.

 

First Quarter Results 2015 Compared to First Quarter 2014

 

Revenue increased by 46%.

Gross profit increased by 28%.

Operating expenses increased by 10%.

Net income increased by 135%.

EBITDA increased by 72%.

Cash was $1.3 million higher.

Shareholder equity increased 25% to $7.2 million.

Gross profit was 28% higher.

 

In the first quarter of 2015, most of the increases were due to higher sales revenue.   The sales mix yielded higher average selling prices, but the mix had higher costs that adversely affected gross profit.  Higher raw material costs for dry feed had a negative impact on gross profit.  Operating expense increased 10%.   Selling expense increased due to the travel and advertising needed to support sales growth.  Employee expenses increased due to inflationary and merit pay increases and higher profit sharing expenses in Ecuador.

 

Information: William P. Long (Chief Executive Officer), Epicore BioNetworks, Inc., 4 Lina Lane, Eastampton, New Jersey 08060, USA (phone 1-609-267-9118, fax 1-609-267-9336, email investors@epicorebioNnetworks.com, webpage http://epicorebionetworks.com).

 

Source: Nasdaq Globe Newswire.  Epicore BioNetworks Inc. Reports Record Results for Quarter One Fiscal Year 2015.  November 11, 2014.

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