Omega Protein Reports 2009 Third Quart...(llion sub-limit for the issuance of stan...),Health

Date:11/3/2009

llion sub-limit for the issuance of standby letters of credit. The new loan agreement is secured by substantially all of the Company's assets except for those already pledged in connection with existing federal Fisheries Finance Program loans. The loan agreement replaced a former credit facility with a group of banks led by Bank of America, N.A.

During the nine months ended September 30, 2009, the Company received a federal hurricane assistance grant of $2.7 million from the State of Mississippi, net of fees, related to the impact of Hurricane Katrina, which occurred during 2005. Additionally, the Company incurred $1.4 million of interest expense related to interest rate swaps which became ineffective during the period as a result of debt repayments related to the refinancing of the Company's credit facility. Excluding these items from the results of operations, net loss for the nine months ended September 30, 2009 would have been approximately $4.8 million ($0.26 a share).

About Omega Protein

Omega Protein Corporation is the nation's largest manufacturer of heart-healthy fish oils containing Omega-3 fatty acids for human consumption, as well as specialty fish meals and fish oil used as value-added ingredients in aquaculture, swine and other livestock feeds. Omega Protein makes its products from menhaden, an Omega-3 rich fish that is not utilized as seafood, but which is abundantly available along the U.S. Gulf of Mexico and Atlantic Coasts.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: The statements contained in this press release that are not historical facts are forward-looking statements that involve a number of risks and uncertainties. The actual results of future events described in any of these forward-looking statements could differ materially from those stated in the forward-looking statements. Important factors that could cause actual results to be materially different from those forward-looki
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SOURCE Omega Protein Corporation Copyright©2009 PR Newswire. All rights reserved

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