HOUSTON, March 8, 2012 — /PRNewswire/ — Omega Protein Corporation (NYSE: OME), a nutritional ingredient company and the nation's leading vertically integrated producer of omega-3 fish oil and specialty fish meal products, today reported financial results for the fourth quarter and full year ended December 31, 2011.
Fourth Quarter and Full Year 2011 Highlights:
Revenues: $62.8 million for the quarter, a 46% increase over the 2010 fourth quarter, and $235.2 million for the year, a 40% increase over 2010
Gross profit margin: 17.2% for the quarter and 23.2% for the year
Net income: $0.6 million ($0.03 per diluted share) for the quarter and $34.2 million ($1.71 per diluted share) for the year
Production: The Company experienced its highest overall production since 2003 and highest fish catch since 2002
Fourth Quarter 2011 Results
Omega Protein fourth quarter of 2011 revenues increased 46% to $62.8 million from $43.1 million in the same period last year. The composition of revenue by nutritional product line was 76% fish meal, 15% fish oil, 5% specialty nutraceutical ingredients, and 4% fish solubles and other. Fish meal sales prices decreased 27% compared to the fourth quarter of 2010. Fish oil sales prices increased 28% compared to the fourth quarter of 2010.