Business briefs

Advertiser Staff

Cyanotech's net sales down

Cyanotech Corp., the Big Island maker of BioAstin and other products from micro-algae, reported a net loss of $785,000, or 5 cents per share, in the three months ended June 30.

That compared with a net loss of $413,000, or 2 cents per share, in the same period a year ago.

The Kailua, Kona-based company said net sales were $2.03 million, down from $2.31 million a year ago. The company said income was down because of a drop in sales of its Spirulina powder.

Oil exploration firm posts loss

Barnwell Industries Inc., a Honolulu-based oil exploration company, said it had a net loss of $220,000, or 17 cents per share, in the three months ended June 30, compared with a net profit of $740,000, or 55 cents per share, a year earlier. Sales were $3.99 million in the quarter, compared with $5.82 million a year ago.