[ad#PhycoBiosciences AIM Interview]


Cyanotech sales up 12% in Fiscal Year 2013

July 15, 2013

Cyanotech’s algae cultivation and production facilities in Kona

Cyanotech’s algae cultivation and production facilities in Kona

Microalgae-based, high-value nutrition and health products manufacturer, Cyanotech Corporation, has announced financial results for fiscal year 2013, ended March 31, 2013.

For fiscal 2013 compared to fiscal 2012, net sales for the Kona, Hawaii-based company were $27,581,000 compared to $24,631,000, an increase of 12%. Gross profit was $10,958,000, with gross profit margin of 40%, compared to gross profit of $9,774,000 and gross profit margin of 40%. Net income was $4,209,000 or $0.74 per diluted share, compared to net income of $3,632,000 or $0.66 per diluted share.

Commenting on the fiscal 2013 results, President and CEO Brent Bailey said, “Fiscal 2013 net sales were a record $27,581,000 (+12%) and were driven by strong growth in our consumer business:

  • Nutrex Mainland: +54%
  • Nutrex Hawaii: +26%
  • Nutrex Direct (online): +81%
  • Nutrex International: +105%

“Retail dollar growth of our Astaxanthin and Spirulina products in the natural products channel was +41% and +35%, respectively, and our market share was 40% (+13 pts.) and 45% (+5 pts.), respectively. Net sales per capita of our Nutrex products in the Hawaii market reached $1.47 in fiscal 2013. Packaged products now generate 45% (+10 pts.) of our total revenue, yet utilize only 36% (+16 pts.) and 18% (+6 pts.) of our Spirulina and Astaxanthin production, respectively.

“Operating income for the year was negatively impacted by three factors:

  1. Under absorbed overhead due to lower than expected Spirulina production in the first three quarters of the year.
  2. The investments we are making in people, infrastructure and marketing which are driving 
our topline growth
  3. Increased legal fees.”

All Cyanotech products are produced from microalgae grown at their 90-acre facility in Kona, using patented and proprietary technology. Cyanotech distributes to nutritional supplement, nutraceutical and cosmeceutical manufacturers and marketers in more than 50 countries worldwide.

More Like This…

HOME Algae Industry Jobs

Copyright ©2010-2013 AlgaeIndustryMagazine.com. All rights reserved. Permission granted to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

From The A.I.M. Archives

— Refresh Page for More Choices
The European (FP7) algae project Sustainable PoLymers from Algae Sugars and Hydrocarbons (SPLASH) has been developing a platform technology for the conversion of third ge...
Jeff Gelski writes in foodbusinessnews.net that algae oil is now in the toolbox of alternative oils shown to replace partially hydrogenated oils (PHOs), which cause trans...
While aquafarmers in Maine have been harvesting seaweed for nearly 80 years, for a variety of uses and products, in recent years wild harvests have not been able to meet ...
The fully automated plant at the Fraunhofer Center for Chemical-Biotechnological Processes CBP in Leuna, Germany, was designed to produce microalgae at industrial scale. ...
Using microalgae to capture CO2 is a complex process, especially in flue gas environments, reports an editorial by IEA Clean Coal Centre in worldcoal.com. There are many ...
OriginClear Inc. and partner AlgEternal have announced that, based on AlgEternal’s field tests, they believe their pure algae concentrate, harvested with OriginClear tech...
Bigelow Laboratory, of East Boothbay, Maine, and the University of Mississippi have formed a five-year Strategic Inter-Institutional Partnership Agreement for collaborati...
MicroBio Engineering, Inc. has announced a new line of 100 and 1,000 liter Algae Raceways™, building on the success of their popular 0.5 m2 (5.5 ft2) and 3.5 m2 (40 ft2),...
Glass tubing manufacturer SCHOTT, and Algatechnologies Ltd. (Algatech), a commercial algae producer and one of the largest manufacturers of natural astaxanthin, have part...