Stellar Biotechnologies Inc (OTCMKTS:SBOTF) has decided to announce the financial results for the quarter ended on December 31, 2014. Stellar is known for developing Keyhole Limpet Hemocyanin, a widely used immune-stimulating protein.
Senior management of the company is happy to announce the financial results and call this top-notched performance the result of collective efforts of all the stakeholders. Frank Oakes, CEO and President of Stellar Biotechnologies told the reporters that careful management decisions and increased product sales enabled the company to post strong financial results in the most recent quarter. It will try to continue the same performance in the coming months as well.
Stellar Biotechnologies Inc (OTCMKTS:SBOTF) witnessed a slight fall in the cash position, but still it was not something to worry about. The cash and cash equivalents in the quarter ended December 31, 2014 were $12.76 million as compared to $13.76 million of the fiscal years ended September 30, 2014. Stellar used around $1.28 million cash in operating activities during the previous quarter as compared to $1.08 million for the same period in 2013. There are quite a few developmental programs lined up in 2015, and the management thinks that the current cash will be enough to meet all the working capital other funding requirements.
Total shareholders’ equity as of December 31 was $9.23 million with close to 79.5 million outstanding shares. It had $10.46 million shareholders equity and 79.4 million shares outstanding in the quarter prior to this. Total revenues of the company for the same period ended December 31, 2014 were $212,661 versus $58,825 revenues during the same period in 2013. The major contribution to the previous quarter’s revenues was $152,661 through product sales as compared to 2013’s $16,085. Company managed to add significant number of customers in the recent quarter, which led to overall surge in product revenues. It hopes to do the same in the coming months as well.