Welcome to our dedicated page for Cyanotech news (Ticker: CYAN), a resource for investors and traders seeking the latest updates and insights on Cyanotech stock.
Cyanotech Corporation (CYAN) is a Madrid-based accounting firm specializing in financial auditing, tax consultancy, and regulatory compliance services. This page serves as the definitive source for official news and press releases related to the company's operations in Spain's professional services sector.
Investors and industry professionals will find timely updates on strategic developments, regulatory adherence milestones, and service portfolio expansions. All content is sourced directly from the company to ensure accuracy and compliance with financial reporting standards.
The news collection covers essential updates including financial performance announcements, leadership changes, regulatory compliance achievements, and strategic partnerships. Each update is curated to provide clear insights into the firm's market position and operational priorities.
For ongoing monitoring of Cyanotech's developments, bookmark this page or check back regularly. Those analyzing Spain's financial services sector will find this resource particularly valuable for tracking compliance trends and professional service innovations.
Cyanotech Corporation (CYAN) reported its financial results for the third quarter and first nine months of fiscal year 2023, revealing a 37.7% decrease in net sales, totaling $5.89 million compared to $9.46 million in the same quarter last year. The company experienced a gross profit margin decline to 29.9%, down from 34.2%. Net loss stood at $598,000 or $0.10 per diluted share. For the first nine months, net sales decreased 36.1% to $17.79 million. Operating losses were significant, with a loss of $1.67 million for the nine months, compared to an operating income the previous year.
The company cites ongoing inventory adjustments and global supply chain challenges as key factors affecting performance.
Cyanotech Corporation (CYAN) reported substantial declines in financial results for the second quarter and first half of fiscal 2023. Net sales fell by 45.0% to $5.2 million compared to $9.4 million in the prior year, primarily due to adverse exchange rate impacts and reduced sales in the bulk and e-commerce segments. Operating loss expanded to $837,000, with a net loss of $940,000 or $0.15 per diluted share. Over the first six months, net sales dropped 35.3% to $11.9 million, resulting in a net loss of $1.4 million or $0.23 per diluted share. Gross profit margins also decreased, reflecting ongoing challenges.
Anavasi Diagnostics, a medical technology firm, has elected three new board members: Bryan Crane, PhD, from Illumina, Arthur Kirsch from Liquidia Corp, and David Vied from Cyanotech Corporation. This expansion aims to leverage their extensive industry experience to enhance Anavasi's growth as it progresses through clinical trials and product development. Nelson Patterson, CEO, expressed optimism about the fresh perspectives these members will bring. Anavasi has secured $6 million in seed funding and is currently in a $20 million Series A fundraising round.
Cyanotech Corporation (NASDAQ: CYAN) reported disappointing financial results for Q1 FY2023, ending June 30, 2022. Net sales dropped by 25.1% to $6.72 million, down from $8.96 million in the same quarter last year. Gross profit also decreased to $2.32 million, yielding a gross margin of 34.5%, compared to 41.0% previously. The company faced an operating loss of $425,000 and a net loss of $472,000, or $0.08 per diluted share. Production issues related to staffing shortages and timing of shipments contributed to lower sales and higher costs.
Cyanotech Corporation (Nasdaq: CYAN) reported strong fiscal year 2022 results, with net sales reaching $36.0 million, an increase of 11.2% from fiscal 2021. The gross profit rose to $13.6 million, achieving a 37.7% gross margin, up from 34.4% the previous year. The company generated $2.4 million in cash from operations and deleveraged by $1.7 million. However, fourth-quarter net sales declined to $8.1 million, a 13.9% decrease year-over-year. Net income for the fiscal year was $2.15 million, equating to $0.35 per diluted share.
Nutrex Hawaii, Inc. has launched TurmericAstin, a new product combining BioAstin Hawaiian Astaxanthin and Organic Turmeric Root Extract with 95% curcuminoids. This product aims to support a healthy inflammatory response and enhance immune health and brain function. The company emphasizes sustainable farming practices, utilizing solar power and ultra-deep ocean water at their facility in Kailua-Kona, Hawaii. The product contains ingredients designed for effective absorption, including BioPerine Black Pepper Extract.
Cyanotech Corporation (CYAN) announced its financial results for Q3 and the first nine months of fiscal year 2022, showing robust growth despite supply chain issues. In Q3, net sales rose to $9.46 million, a 35.4% increase from the previous year, with a gross profit of $3.24 million and a margin of 34.2%. Net income for the quarter was $386,000 ($0.06 per diluted share), down from $827,000 ($0.13) the prior year. For the first nine months, net sales reached $27.84 million, up 21.5%, with net income at $1.88 million ($0.30) compared to $1.12 million ($0.18) previously.
Cyanotech Corporation (Nasdaq: CYAN) reported robust financial results for the second quarter and first half of fiscal 2022, ended September 30, 2021. Net sales increased 10% to $9.42 million for Q2 and 15% to $18.38 million for the first six months. Gross profit margins improved to 39.9% in Q2 and 40.4% for the first half. Net income surged significantly to $970,000, or $0.15 per diluted share in Q2, up from $155,000 a year ago. The company attributed strong demand for its products and effective management of supply chain disruptions to these positive results.
Cyanotech Corporation (CYAN) reported strong financial results for the first quarter of fiscal 2022, ending June 30, 2021. Net sales reached $8,964,000, a 22% increase from $7,352,000 in the same quarter last year. Gross profit improved to $3,672,000 with a margin of 41.0%, up from 40.5%. Operating income rose to $619,000, compared to $268,000 the previous year. Net income also increased significantly to $520,000 or $0.08 per diluted share, compared to $138,000 or $0.02 per diluted share last year.
Cyanotech Corporation (CYAN) reported a slight increase in net sales for fiscal year 2021, totaling $32.3 million, up 1.4% from 2020. However, gross profit declined to $11.1 million, reflecting a 34.4% margin, down from 39.8% due to higher spirulina costs. The company generated $2.4 million in cash from operations, reducing debt by $1.7 million. For the fourth quarter, sales were $9.4 million, a 9.3% increase year-over-year, but net loss reached $200,000, or ($0.03) per diluted share.
