US fish oil maker Omega Protein has posted a 79% fall in quarterly net income, reflecting a reduced fish catch amid poor weather conditions along the US Atlantic Coast and the Gulf of Mexico.
Go deeper with GlobalData
The company reported earnings of US$0.74m, or 3 cents a share, for the third quarter to 30 September, compared with $3.6m, or 14 cents a share, a year earlier.
The lower catch of fish led to higher cost inventories and higher cost of sales, as well as lower product volume available for sale, reported Dow Jones Newswires.
Revenue fell 8% to $32.2m from $35.0m in the year-ago period.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
