Cyanotech Continues Delay of Fiscal 2007 Financial Results

KAILUA KONA, Hawaii--(BUSINESS WIRE)--Cyanotech Corporation (Nasdaq:CYAN) announced it will not meet today’s extended deadline for filing its Form 10-K Report with the Securities and Exchange Commission for the fiscal year ended March 31, 2007. The Company, on June 29, 2007, filed Form 12b-25 extending the time to file its Form 10-K. The Company is continuing to work with its registered independent public accountant, KPMG, to resolve possibly material non-cash technical accounting matters. The Company presently believes that it should be able to file Form 10-K by July 30, 2007, but such filing is also dependent upon KPMG’s completion of audit procedures.

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