Quebec-based Immunotec Inc. saw steady revenue growth in its second quarter, primarily on the strength of the company’s U.S. sales.
For the quarter ended April 30, 2015, revenue was up 4.8 percent to $16.2 million. The nutrition company posted a net profit of $243,664, a 60 percent decrease from the second quarter of 2014. Adjusted EBITDA amounted to $1.1 million or 7 percent of revenue, compared to 7.4 percent a year ago.
“The recent volatility in currencies is causing businesses worldwide to review their supply chain strategies,” CFO Patrick Montpetit noted in the company’s release. “Subsequent to the end of April, we secured additional financing to support strengthening our supply chain.”
Since its founding in 1996, Immunotec has expanded southward into the U.S. and Mexico. Annual revenue topped $73 million in 2014, placing the company at No. 97 on the DSN Global 100. In October 2014, Immunotec announced the opening of its first U.S. sales office, a 7,200 square-foot space in Commerce, California.