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Omega Protein Reports 2009 Second Quarter Results
Date:8/6/2009

HOUSTON, Aug. 6 /PRNewswire-FirstCall/ -- Omega Protein Corporation (NYSE: OME), the nation's leading producer of Omega-3 fish oil and specialty fish meal products, today reported net loss of $3.3 million ($0.18 per share) for the second quarter of 2009, compared with net income of $6.7 million ($0.37 per share) for the second quarter of the previous year.

Revenues for the second quarter ended June 30, 2009 were $41.8 million compared with revenues of $47.1 million for the comparable quarter in 2008. Omega Protein recorded operating loss of $3.9 million for the second quarter of 2009, versus operating income of $11.6 million for the second quarter of 2008.

For the six months ended June 30, 2009, the Company had revenues of $71.9 million, compared with $83.2 million in revenues for the first six months of 2008. Omega Protein recorded operating income of $0.4 million for the six months ended June 30, 2009, versus operating income of $15.7 million for the comparable period a year earlier. The Company had net loss of $1.2 million ($0.06 per share) for the six months ended June 30, 2009, compared with net income of $8.6 million ($0.48 per share) for the six months ended June 30, 2008.

The Company's 2009 second quarter results reflect decreased revenues and gross profit margins primarily due to lower sales prices and increased per unit costs resulting from below average fish catch in the 2008 fishing season and higher costs of production due to increased energy, labor and repair costs, offset partially by increased sales volumes when compared to the 2008 second quarter. The decreased sales prices are a result of the general constriction of global markets and, more particularly as it relates to fish oil, an inordinate reduction in demand from the Chilean aquaculture industry.


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SOURCE Omega Protein Corporation
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