KAILUA KONA, Hawaii--(BUSINESS WIRE)--Cyanotech Corporation (Nasdaq Capital Market: CYAN), a world leader in microalgae-based, high-value nutrition and health products, announced financial results for the third quarter and first nine months of fiscal year 2017, ended December 31, 2016.
Third Quarter 2017
For the third quarter of fiscal 2017 compared to the third quarter of fiscal 2016, net sales were $7,605,000 compared to $7,534,000, an increase of 0.9%. Gross profit was $2,857,000, with gross profit margin of 37.6%, compared to gross profit of $3,084,000 and gross profit margin of 40.9%. Operating loss was ($173,000) compared to operating income of $296,000. Net loss was ($349,000) or ($0.06) per diluted share, compared to net loss of ($250,000) or ($0.04) per diluted share.
