Revenues and net income both dropped in the first quarter at Embrex.
Revenues were $10.9 million, down from $11.4 million a year earlier. Net income dropped to $1.28 million, or 16 cents a share, from $2.3 million, or 28 cents.
Embrex (Nasdaq: EMBX) stock traded up 49 cents, or 6 percent, to $8.66 at midday.
Embrex cited a number of reasons for the decline, including “challenges” facing the worldwide poultry industry.
Embrex: www.embrex.com
