OTC Bulletin Board S & P Company Insight for INTEGRATED BIOPHARMA
Profile
	Business Summary: Integrated BioPharma, Inc., together with its subsidiaries, manufactures, distributes, markets, and sells vitamins, nutritional supplements and herbal products. The company's customers are located primarily in the United States.   Address   225 Long Avenue   Hillside , NJ 07205-2349   Phone: 888-319-6962   Website: http://www.integratedbiopharma.com Transfer Agent   Continental Stock Transfer & Trust Co. Employees:  115 ShareHolders:  1100 Founded:  1980 Domicile:  Delaware
Background
	Integrated BioPharma, Inc., together with its subsidiaries, manufactures, distributes, markets, and sells vitamins, nutritional supplements and herbal products. The company's customers are located primarily in the United States. It offers vitamins and nutritional supplements for sale to distributors, multilevel marketers, and specialized health-care providers, as well as through mass market, grocery, drug, and vitamin retailers under the Naturally Noni, Naturally Pomegranate, Naturally Aloe, Aloe Pure, Naturally Thai Mangosteen, Peaceful Sleep, Green Envy, 1st Choice Multi-Vitamin, ACAI Extra, ACAI Immune, and ACAI Cleanse names. The company also sells vitamins and nutritional supplements, including private label products, through mail order catalogs and the Internet. In addition, Integrated BioPharma distributes fine natural chemicals and certain raw materials. For the six months ended December 31, 2009, U.S. customers accounted for approximately 74% of total net sales, and international customers accounted for approximately 26%. The principal raw materials used in the company's manufacturing process are natural and synthetic vitamins, minerals, herbs, related nutritional supplements, gelatin capsules, coating materials, organic and natural fruit extracts, fruit juices and the necessary components for packaging the finished products. The raw materials are available from numerous sources within the United States and abroad. The gelatin capsules, coating materials and packaging materials are similarly widely available. The company generally purchases its raw materials, on a purchase order basis, without long-term commitments. The company's nutraceutical business segment tends to be seasonal. Integrated BioPharma has found that in its first fiscal quarter ending on September 30 of each year, orders for its branded proprietary nutraceutical products usually slow (absent the addition of new customers or a new product launch with a significant first time order), as buyers in various markets may have purchased sufficient inventory to carry them through the summer months. Conversely, in the company's second fiscal quarter, ending on December 31 of each year, orders increase as the demand for Integrated BioPharma's branded nutraceutical products seems to increase in late December to early January. Integrated BioPharma, Inc. is based in Hillside, New Jersey. History:  INCORPORATED in Delaware Aug. 31, 1995, as Chem International, Inc., a wholly owned subsidiary of a company with the same name (Parent). On Feb. 2, 1996, merged Parent on a share-for-share basis. Name changed to Integrated Health Technologies, Inc. Jan. 5, 2001; and to Integrated BioPharma, Inc. Apr. 15, 2003. Parent was incorporated in New York Mar. 17, 1980, as Frog Industries Ltd. Name was changed Dec. 27, 1994, in conjunction with the merger of Parent and Chem International, Inc. (CII; incorporated in Delaware Jan. 2, 1980) whereby each Common share of CII was exchanged for 30,357.14287 Common shares of Parent and each Preferred share of CII was converted into one Class A Preferred share and 0.51127 Class B Preferred share of Parent.   Subsidiaries: AgroLabs, Inc. IHT Health Products, Inc. IHT Properties, Inc. InB:Manhattan Drug Company, Inc. Scientific Sports Nutrition, Inc. Vitamin Factory, Inc.     Capital Expenditures, thousand. US Dollars   Year   Amount   2009   62   2008   504   2007   1,111   Research and Development Expenditures, thousand. US Dollars   Year   Amount   2008   550   2007   699   2006   424
Management
	Management Officers Position  E. Gerald Kay Chairman, President & Chief Executive Officer  Dina L. Masi Secretary, SR VP & Chief Financial Officer  Christina  Kay Exec VP  Riva Kay Sheppard Exec VP  Dina L. Masi Investor Relations Contact Directors  Robert  Canarick  Carl  DeSantis  Christina  Kay  E. Gerald Kay  William H. Milmoe  Riva Kay Sheppard
Annual Report
	Annual Report   Income Statement   2009 2008 REVENUES Sales 39,367 43,868 EXPENSES Cost of Sales (29,594) (35,690) Selling and Administrative Expenses (14,226) (14,689) Interest Expense (2,232) (1,959) Interest and Investment Income (Loss) 38 59 Unrealized Loss on Investment in Ibio, Inc (1,877) - Other Income 176 434 Earnings before Taxes (8,348) (7,977) TAXES AND OTHER EXPENSES Provision for Income Tax (4,781) (1,237) Earnings of Discontinued Operations (4,418) (8,953) Loss on Sale of Hauser (629) - Net Income (Loss) (18,176) (18,167) CHARGES ON NET INCOME Dividends on Preferred Stock (54) (216) Preferred Stock Adjustments (1,137) (79) Net Income Available to Common Shareholders (19,367) (18,462) SUPPLEMENTARY INFO Gross Profit/loss 9,773.00 8,178.00 Operating Income (Loss) (4,453.00) (6,511.00) Share earns. basic and diluted: Continuing Operations (0.73) (0.66) Discontinued Operations (0.26) (0.62) Total (0.99) (1.28)   Balance Sheet   2009 2008 ASSETS Cash and Cash Equivalents 570 670 Accounts Receivable, Net 2,621 3,249 Inventories 8,029 8,276 Deferred Income Taxes - 1,063 Other Current Assets 601 686 Current Assets from Discontinued Operations 153 3,573 Total Current Assets 11,974 17,517 NON CURRENT ASSETS Property, Plant and Equipment, Net 1,865 2,182 Investment in Ibio, Inc 823 - Deferred Income Taxes - 3,670 Intangible Assets, Net 1,570 1,707 Other Assets from Discontinued Operation - 6,400 Security Deposits and Other Assets 251 54 Total Assets 16,483 31,530 LIABILITIES Accounts Payable 5,788 4,759 Accrued Expenses and Other Current Liabilities 1,447 2,371 Notes Payable Net of Discount -current 7,458 - Federal & State Income Taxes Payable - 80 Liabilities from Discontinued Operation 197 3,002 Total Current Liabilities 14,890 10,212 NON CURRENT LIABILITIES Notes Payable, Net of Discount ?non Current - 6,677 Convertible Note Payable- CD Financial Llc, Net of Discount 4,039 3,778 Preferred Stock Convertible - 4,863 SHAREHOLDERS' EQUITY Common Stock - Par Value 40 30 Additional Paid in Capital 44,216 39,811 Treasury Stock - Common (99) (99) (Deficit) Retained Earnings (46,603) (33,742) Total Shareholders Equity (2,446) 6,000 Total Liabilities & Shareholders Equity 16,483 31,530
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2010   1 11,040,000   2010   2 8,760,000   2010   3 7,460,000   2009   1 10,660,000   2009   2 12,230,000   2009   3 8,330,000   2009   4 10,340,000   2009   Full Year 39,370,000   2008   1 12,630,000   2008   2 13,700,000   2008   3 11,210,000   2008   4 12,400,000   2008   Full Year 49,940,000   2007   1 12,910,000   2007   2 20,850,000   2007   3 16,430,000   2007   4 9,971,000   2007   Full Year 60,160,000   2006   1 14,790,000   2006   2 12,970,000   2006   3 12,940,000   2006   4 17,300,000   2006   Full Year 57,820,000   2005   1 6,120,000   2005   2 6,420,000   2005   3 8,870,000   2005   4 11,330,000   2005   Full Year 32,740,000     Quarterly Net Income, US$ Year Quarter Revenue   2010   1 (940,000)   2010   2 (1,000,000)   2010   3 (1,920,000)   2009   1 (3,050,000)   2009   2 (8,120,000)   2009   3 (2,470,000)   2009   4 (1,260,000)   2009   Full Year (13,130,000)   2008   1 (1,320,000)   2008   2 (3,650,000)   2008   3 (7,250,000)   2008   4 (5,950,000)   2008   Full Year (18,170,000)   2007   1 170,000   2007   2 1,100,000   2007   3 120,000   2007   Full Year (2,044,000)   2006   1 1,910,000   2006   2 1,390,000   2006   3 10,000   2006   Full Year 8,431,800   2005   1 (1,750,000)   2005   2 (2,550,000)   2005   3 1,500,000   2005   4 (5,780,000)   2005   Full Year (8,580,200)     Quarterly EPS, US$ Year Quarter Revenue   2010   1 (.05)   2010   2 (.05)   2010   3 (.09)   2009   1 (.24)   2009   2 (.40)   2009   3 (.15)   2009   4 (.06)   2009   Full Year (.73)   2008   1 (.09)   2008   2 (.26)   2008   3 (.50)   2008   4 (.42)   2008   Full Year (1.28)   2007   1 (.04)   2007   2 (.11)   2007   3 .01   2007   4 (.26)   2007   Full Year (.40)   2006   1 .09   2006   2 .05   2006   3 (.06)   2006   4 .32   2006   Full Year .34   2005   1 (.20)   2005   2 (.26)   2005   3 .05   2005   4 (.50)   2005   Full Year (.90)
Stock Data
	Capitalization as of 12/31/2009:     Authorized Shares Outstanding Shares Common $0.002 par 50,000,000 20,469,342so1   LONG TERM DEBT: $3,091,000.   Common $0.002 par   Stockholders:  06/30/2009, 1100. PRINCIPAL STOCKHOLDERS: October 20, 2009, Carl DeSantis owned or controlled 28.1% of the Common, E. Gerald Kay 26.5% and William H. Milmoe 16.8%.   Transfer Agent:  Continental Stock Transfer & Trust Co.   New York , NY   OTC Bulletin Board( Primary): INBP   Exchange Year High Low OTC Bulletin Board 2009 0.5100 0.0400 Nasdaq Global Market 2008 3.9200 0.0100 Nasdaq Global Market 2007 7.5000 2.5000 American Stock Exchange 2006 10.1300 3.8800 American Stock Exchange 2005 7.6500 1.5500 American Stock Exchange 2004 15.1700 4.0500 American Stock Exchange 2003 12.6800 0.4200 OTC Bulletin Board 2002 0.8000 0.2400 OTC Bulletin Board 2001 1.0630 0.0700 NASDAQ 2000 2.9380 0.4380   RECENT DIVIDENDS: Common $0.002 par: No cash. One Common share of iBioPharma, Inc. for each Common share of the company, ex-Aug. 19, 2008.       so1Excl. 34,900 in treas.