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May 9, 2006

US: Omega Protein Corp sees profits in Q1 leap

Omega Protein Corporation has reported a leap in net income for the first quarter of 2006 to $2.5 million (10 cents per share), compared with net income of $107,000, or 0 cents a share, for the first quarter of the previous year.

Omega Protein Corporation has reported a leap in net income for the first quarter of 2006 to US$2.5m (10 cents per share), compared with net income of $107,000, or 0 cents a share, for the first quarter of the previous year.

The world’s largest manufacturer of heart-healthy fish oils containing long-chain Omega-3 fatty acids said revenues for the first quarter of 2006, which ended March 31, were $28.3m, versus revenues of $23.8m for the 2005 comparable quarter.

Omega Protein had operating income of $3.4m for the first quarter of 2006, compared with operating income of $278,000 in the comparable quarter of the previous year. First quarter 2006 margins were increased from the prior year’s comparable quarter due to higher sales prices experienced in the current quarter.

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