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Omega Protein Reports 17 Cents Per Share Third Quarter Profit
Date:11/10/2008

(unaudited)

Three Months Nine Months

Ended September 30, Ended September 30,

2008 2007 2008 2007

(in thousands, except per share amounts)

Revenues $54,507 $44,590 $137,774 $112,813

Cost of sales 43,923 33,640 102,976 86,805

Gross profit 10,584 10,950 34,768 26,008

Selling, general and

administrative expense 4,211 3,477 11,874 11,656

Research and development expense 630 278 1,280 665

(Insurance recoveries and other

proceeds) losses resulting from

natural disasters and other, net 423 (5,117) 608 (4,933)

Operating income 5,320 12,312 21,006 18,620

Interest income (expense), net (978) (1,204) (2,876) (4,010)

Loss resulting from debt refinancing - - - (3,024)

Other income (expense), net 107 (75) (17) (246)

Income before income taxes 4,449 11,033 18,113 11,340

Provision for income taxes 1,335 3,880 6,377 3,984

Net income $3,114 $7,153 $11,736 $7,356

Basic earnings per share $0.17 $0.42 $0.65 $0.44

Weighted average common shares

outstanding 18,624 16,971 18,160 16,635

Diluted earnings per share $0.16 $0.41 $0.63 $0.42

Weighted average common shares and

potential common share equivalents

outstanding 18,875 17,591 18,541 17,325

OMEGA PROTEIN CORPORATION'/>"/>

SOURCE Omega Protein Corporation
Copyright©2008 PR Newswire.
All rights reserved

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