Cyanotech's profits decrease despite stout quarterly sales

By Alan Yonan Jr.

POSTED: 01:30 a.m. HST, Feb 08, 2013

~~<p>Increased spending for production and marketing of Cyanotech Corp.'s microalgae products dragged down its profitability in the final three months of 2012 even as the Hawaii island company achieved record sales for the period.</p>
<p>Cyanotech earned $607,000, or 11 cents a share, in its third fiscal quarter, down 45 percent from $1.1 million, or 20 cents a share, in the same period a year earlier, the company reported Thursday.</p>
~~

Increased spending for production and marketing of Cyanotech Corp.'s microalgae products dragged down its profitability in the final three months of 2012 even as the Hawaii island company achieved record sales for the period.

Cyanotech earned $607,000, or 11 cents a share, in its third fiscal quarter, down 45 percent from $1.1 million, or 20 cents a share, in the same period a year earlier, the company reported Thursday. Login for more...