Omega Protein Corporation Reports Net Income of $630,000 for the Second Quarter
For the six months ended June 30, 2006, the Company had revenues of $61.6 million, compared with $51.3 million in revenues for the first six months of 2005.
08/08/06 Omega Protein Corporation, the nation's leading producer of Omega-3 fish oil and specialty fish meal products, today reported net income of $630,000 (3 cents a share) for the second quarter of 2006, compared with net income of $659,000 (3 cents a share) for the second quarter of the previous year.
Revenues for the second quarter ended June 30, 2006 were $33.3 million compared with revenues of $27.5 million for the comparable quarter in 2005. Omega Protein recorded operating income of $1.5 million for the 2006 second quarter, versus operating income of $0.8 million for the second quarter of 2005.
For the six months ended June 30, 2006, the Company had revenues of $61.6 million, compared with $51.3 million in revenues for the first six months of 2005. Omega Protein recorded operating income of $4.9 million for the six months ended June 30, 2006, versus operating income of $1.0 million for the comparable period a year earlier. The Company had net income of $3.2 million (13 cents a share) for the six months ended June 30, 2006, compared with net income of $766,000 (3 cents a share) for the six months ended June 30, 2005.
Omega Protein's second quarter results, as well as the results for the first six months of 2006, reflect increased margins primarily due to higher sales prices received during the current year, partially offset by increased costs of production.
