Net income, revenues up at Omega Protein
The nation's No. 1 fish oil supplement producer on Tuesday posted a net income of USD 12.6 million (EUR 9.8 million) for 2008, up slightly from USD 12.1 million (EUR 9.5 million) in 2007.
Omega Protein Corp. also reported revenues of USD 177.4 million (EUR 138.7 million) last year, up from USD 157 million (EUR 123 million) the previous year, and an operating income of USD 23.5 million (EUR 18.4 million), down from USD 27.4 million (EUR 21.4 million) in 2007.
The Houston company, which also manufactures value-added fish oil and fishmeal products for use in fish, swine and livestock feed, said the results reflect increased fish oil prices, offset by decreased sales. Commodity prices began to fall in mid-2008, contributing to decreased profit margins in the third and fourth quarters.