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Cyanotech Corporation is a renowned accounting firm situated in Madrid, Spain. Based out of Calle Laguna del Marquesado, Nave 16 Edificio Adriana, 1ª Planta, Polígono Industrial La Resina, Villaverde, the company serves a diverse clientele within the Community of Madrid and beyond.
Cyanotech Corporation specializes in providing comprehensive accounting services that include financial planning, auditing, tax advisory, and bookkeeping. The firm is known for its meticulous attention to detail, ensuring that clients' financial records are accurate and compliant with the latest regulations.
Recently, Cyanotech Corporation has been involved in several noteworthy projects aimed at enhancing their service offerings. They have implemented advanced accounting software to improve efficiency and accuracy, and have formed strategic partnerships with leading financial institutions to provide clients with a broader range of services.
Financially, the company maintains a robust and stable condition, continually investing in training and development for its staff to stay ahead in the rapidly evolving field of accounting. Their team comprises experienced professionals who are well-versed in both local and international accounting standards.
Cyanotech Corporation's commitment to excellence is evident in their consistent delivery of high-quality services, which has garnered them a loyal client base and a strong reputation in the industry. As they continue to innovate and expand, they remain focused on helping their clients achieve their financial goals with confidence and precision.
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.
Cyanotech Corporation (CYAN) reported financial results for Q3 and the first nine months of fiscal 2021. Q3 net sales decreased to $6.985 million, down by 6.9% year-over-year. Gross profit also fell to $2.071 million with a margin of 29.6%, a decline attributed to high-cost inventory. However, net income rose to $827,000, or $0.13 per diluted share, mainly due to Paycheck Protection Program loan forgiveness. For nine months, total sales were $22.907 million, while gross profit decreased to $8.347 million with a 36.4% margin.
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