Cyanotech Corp (CYAN) Reports Q4 Loss of $0.73/Share

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Go back to Cyanotech Corp (CYAN) Reports Q4 Loss of $0.73/Share

Cyanotech Reports Financial Results for the Fourth Quarter and Fiscal Year 2016

June 23, 2016 8:00 AM EDT

KAILUA KONA, Hawaii--(BUSINESS WIRE)-- Cyanotech Corporation (Nasdaq Capital Market: CYAN), a world leader in microalgae-based, high-value nutrition and health products, today announced financial results for the fourth quarter ended March 31, 2016 and fiscal year 2016.

Fiscal Year 2016

For fiscal year 2016 compared to fiscal year 2015, net sales were $31,840,000 compared to $33,809,000, a decrease of 5.8%. Gross profit was $11,866,000, with gross profit margin of 37.3%, compared to gross profit of $14,466,000 and gross profit margin of 42.8%. Operating loss was ($785,000) compared to operating income of $322,000. Net loss was ($4,395,000) or ($0.79) per diluted share, compared to net loss of ($24,000) or... More