ImmuCell Announces Preliminary, Unaudited Sales Results for the Second Quarter Ended June 30, 2020

ImmuCell Corporation, a growing animal health company that develops, manufactures and markets scientifically-proven and practical products that improve the health and productivity of dairy and beef calves, today announced preliminary, unaudited sales results for the quarter ended June 30, 2020.

Understanding that ImmuCell’s financial performance during the COVID-19 pandemic is of great interest to investors, the Company has decided to provide this preliminary look at the top line results early in the reporting period. The Company expects to offer the same preliminary sales information after the close of the third and fourth quarters of 2020 and plans to return to a more standard disclosure practice during 2021.

Product Sales Results:

• Total product sales increased by 9%, or $256,000, to $3 million during the three-month period ended June 30, 2020 versus the comparable period during 2019.
• Total product sales increased by 11%, or $756,000, to $7.9 million during the six-month period ended June 30, 2020 versus the comparable period during 2019.   
• Total product sales increased by 19%, or $2.3 million, to $14.5 million during the trailing twelve-month period ended June 30, 2020 versus the trailing twelve-month period ended June 30, 2019. 

Management’s Discussion:
“The COVID-19 pandemic has changed the way we operate, but our very dedicated team has been flexible and creative in order to push First Defense^® production during these extremely difficult times and challenging work conditions,” commented Michael F. Brigham, President and CEO. “We reduced the backlog of orders worth approximately $945,000 as of June 30, 2020 from approximately $1.4 million as of March 31, 2020. The investment to increase our First Defense^® production capacity remains on budget and on-time with our aggressive implementation goal, despite COVID-19 related challenges.”

“As indicated by the continued top line growth, our sales team has been able to pivot and be both safe and successful despite COVID-19’s impact on how we work,” concluded Mr. Brigham. “Our first production priority is Tri-Shield First Defense^® because our growth is being generated by this product format, which provides antibodies without vaccination so every calf receives a measured dose of Immediate Immunity™ against all three of the primary scour-causing pathogens, E. coli, coronavirus, and rotavirus.”

Conference Call:
Interested parties can access the conference call scheduled by the Company to review the full second quarter 2020 financial results by dialing (844) 855-9502 (toll free) or (412) 317-5499 (international) at 9:00 AM ET on Thursday, August 13, 2020.  A teleconference replay of the call will be available for seven days at (877) 344-7529 (toll free) or (412) 317-0088 (international), utilizing confirmation #10145671. Investors are encouraged to review the Company’s Form 10-Q for the three-month period ended June 30, 2020 that it expects to file with the SEC on Wednesday, August 12, 2020 and its updated Corporate Presentation slide deck that provides an overview of the Company’s business and is available under the “Investors” tab of the Company’s website at www.immucell.com, or by request to the Company.

About ImmuCell:
ImmuCell Corporation’s purpose is to create scientifically-proven and practical products that improve the health and productivity of dairy and beef calves. ImmuCell manufactures and markets First Defense^®, providing Immediate Immunity™ to newborn dairy and beef calves, and is in the late stages of developing Re-Tain™, a novel treatment for subclinical mastitis without a milk discard requirement that provides an alternative to traditional antibiotics. Press releases and other information about the Company are available at: http://www.immucell.com.

Contacts:	Michael F. Brigham, President and CEO
	ImmuCell Corporation
	(207) 878-2770
	Joe Diaz, Robert Blum and Joe Dorame
	Lytham Partners, LLC
	(602) 889-9700
	iccc@lythampartners.com