RSEARCH TRIANGLE PARK–Embrex (Nasdaq:EMBX) reported second quarter net income of $3.9 million or 46 cents a diluted share, a 12 percent increase compared with net income of $1.7 million or 19 cents a diluted share in the same period last year.
Embrex makes poultry vaccination devices and also sells poultry vaccines.
Device sales, which Embrex has noted can vary from quarter to quarter, accounted for a majority of the increase in second-quarter 2003 revenues. Second-quarter 2003 increases in device fees were offset by lower product sales, the company said.
The company also received a $5 million settlement from Fort Dodge Animal Health during the quarter.
The company said it is pleased with results from the quarter particularly because the poultry production industry continues to be troubled.