Posted at 12:06 p.m., Thursday, August 16, 2007
Cyanotech reports $7.4M loss for fiscal 2006
Advertiser Staff
Kailua-Kona based Cyanotech Corp. today filed its overdue fiscal 2007 financial report with the Securities & Exchange Commission.During the year ended March 31 the maker of nutritional supplements lost $7.4 million, or $1.42 a share, compared with a net loss of $391,000, or 7 cents a share, for fiscal 2006. Net sales for fiscal 2007 fell 13 percent to $9.7 million.
Fiscal 2007 results included a non-cash impairment loss on equipment and leasehold improvements of $4.5 million.
Cyanotech missed the deadline for filing its annual financial report in order to address accounting matters.
Shares of Cyanotech closed unchanged at $1.08 on the Nasdaq Capital Market.
