Unfavorable third quarter for Omega Protein

By

SeafoodSource staff

Published on
November 3, 2009

The United States’ No. 1 producer of fish oil and fishmeal on Tuesday reported a third-quarter net loss of USD 2.8 million, compared to a net income of USD 3.1 million in the third quarter of last year.

Omega Protein Corp. also said its third-quarter revenues slipped from USD 54.5 million in 2008 to USD 49.9 million in 2009.

Through the first three quarters of this year, the Houston-based company posted revenues of USD 121.8 million and a net loss of USD 4 million, compared to revenues of 137.7 million and a net income of USD 11.7 million in the same nine-month period last year.

Omega Protein attributed its unfavorable third-quarter results to reduced sales prices, due largely to substantially weaker demand from the Chilean salmon-farming industry, which is battling an outbreak of infectious salmon anemia.

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