Umami: Bluefin prices lift 3Q results


SeafoodSource staff

Published on
May 16, 2012

Umami Sustainable Seafood on Wednesday reported its third-quarter results for the quarter ending 31 March.

The bluefin tuna farmer reported net revenues of USD 25.6 million in third quarter of fiscal 2012, compared to USD 42.3 million during the same period last year. The San Diego-based company attributed the decline to a change in the timing of the harvest.

However, the average revenue per kilogram of bluefin sold came to USD 29.15, up from USD 19 in the same period last year.

The company’s net income for the first quarter totaled USD 2.6 million, down slightly from USD 2.7 million during the same period in 2011, while its operating income amounted to USD 9.3 million, up from USD 6.4 million last year.

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