Posted at 1:39 p.m., Wednesday, November 7, 2007
Cyanotech says loss narrowed in latest quarter
Advertiser Staff
Cyanotech Corp., a Kona-based producer of microalgae products, said its net loss narrowed to $344,000, or 7 cents a share, in the quarter ended Sept. 30 as sales rose by 5 percent. The company had a loss of $572,000, or 11 cents, a year earlier.The company said revenue rose to $2.60 million from $2.48 million a year previous as sales of its natural astaxanthin product rose 18 percent. It reported sales of its BioAstin product jumped 57 percent.
Cyanotech reported its working capital declined to $2.67 million at the end of the quarter from $3.36 million as of March 31, 2007.
