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Cyanotech swings to a quarterly profit

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Cyanotech Corp., a local producer and seller of nutritional microalgae, swung to a profit in its fiscal second quarter powered by a 10% gain in astaxanthin sales and a 5.8% increase in spirulina sales.

The Kona-based company reported today it had earnings of $228,000, or 4 cents a share, compared with a loss of $1.1 million, or a loss of 20 cents a share, in the year-earlier quarter.

Cyanotech’s revenue rose 10.6% to $7.7 million from $7 million.

“(The quarterly) results reflect a more normalized balance of operational production, sales and controlled expenses,” Cyanotech CEO Gerald Cysewski said. “Our goal and focus going forward is to refine and enhance this interplay of core corporate function.”

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