Sales were up 40 percent at ImmuCell Corp. in the third quarter compared with a year earlier, the Portland-based company announced late Thursday.

ImmuCell, which produces animal health products for the dairy and beef industries, had sales of $2.5 million, compared with $1.8 million in the third quarter of 2014.

The small but growing company had a quarterly net income of $351,000, compared with $10,000 during the same period a year earlier.

Widespread drought in the U.S. that has boosted the price of cattle and the elimination of a major competitor have contributed to the company’s recent explosive growth, ImmuCell President and CEO Michael Brigham has said.

ImmuCell’s primary product, First Defense, contains antibody-rich colostrum – milk produced in late pregnancy – in capsule form. It can be fed to newborn calves to help prevent scours, which causes diarrhea and dehydration. First Defense, which costs $6 for a one-time dose, is a natural product made from cow’s milk that is approved for organic farming.

The company also is in the final stages of developing another all-natural product that will help prevent and treat mastitis – an inflammatory disease of the breast that affects lactating cows.