Omega Protein last week announced its second quarter results including revenues of USD 71.9 million (EUR 53.7 million), up 72 percent from the same period last year.
The company credits the increase to a USD 30.8 million (EUR 23 million) increase in animal nutrition revenues, primarily due to increased sales volumes of Omega Protein’s fishmeal and fish oil.
Income for the Texas-based nutritional product company were also up to USD 6.6 million, compared to USD 4 million (EUR 3 million) in the second quarter of 2013. EBITDA was USD 18.3 million (EUR 13.7 million), up from USD 11.8 million (EUR 8.8 million).
Profits reached USD 20.4 million (EUR 15.2 million), up 28.4 percent from the previous year.
For the year to date, revenues increased 49 percent to USD 135.4 million (EUR 114.6 million), also due to animal nutrition revenues of fishmeal and fish oil. Gross profit reached USD 40.9 million (EUR 30.6 million), up 30.2 percent and income more than doubled to USD 14.6 million (EUR 10.9 million). EBITDA totaled USD 37.4 million (EUR 27.9 million).
“We are pleased with our solid performance in the second quarter. Positive supply and demand fundamentals in our animal nutrition segment fueled our strong revenue and earnings performance,” commented Bret Scholtes, Omega Protein's president and CEO. “Even though we experienced short-term challenges in our human nutrition segment in the quarter, we believe our diversified nutritional business continues to evolve and provide us with the opportunity to take advantage of growing demand for quality health and wellness products.”