Cyanotech earnings jump more than 50% as sales surge
Cyanotech Corp. reported net income jumped to $413,000, or 8 cents a share, in its most recent quarter as sales of its nutritional supplements surged.
The company said the profit compared to net income of $271,000, or 5 cents a share, a year earlier.
“We were thrilled with Cyanotech’s performance this quarter, achieving the highest quarterly revenues in our history,” said Andrew H. Jacobson, president and chief executive officer of the Kona-based company.
The company reported revenue of $4.02 million in the quarter ended June 30.
That compared to the $3.70 million in sales a year earlier.
Shares of Cyanotech climbed 55 cents to $2.50 at the close of regular Nasdaq Market trading.