Use access key #2 to skip to page content.

gnulaw (51.82)

(NASDAQ:CYAN) Q3 2012 - Record Sales EPS .20 v. .00. *The Little Engine That Is.

Recs

1

February 19, 2012 – Comments (6) | RELATED TICKERS: CYAN , BMY , ABT

*See November 17, 2011 (NASDAQ:CYAN) Q2 2012 - Record Sales, Net +66%. The Little Engine That Could.

 

"...Third Quarter 2012
For the third quarter of fiscal 2012 compared to the third quarter of fiscal 2011, revenues were $6,706,000 compared to $3,919,000. Gross profit was $2,827,000, with gross profit margin of 42%, compared to gross profit of $1,232,000 and gross profit margin of 31%. Net income was $1,113,000 or $0.20 per diluted share, compared to net income of $10,000 or $0.00 per diluted share.

Nine Months 2012
For the first nine months of fiscal 2012 compared to the first nine months of fiscal 2011, revenues were $18,645,000 compared to $11,609,000. Gross profit was $7,721,000, with gross profit margin of 41%, compared to gross profit of $4,543,000 and gross profit margin of 39%. Net income was $2,473,000 or $0.45 per diluted share, compared to net income of $935,000 or $0.17 per diluted share.

Trailing 12 Months
For the trailing 12 months ended December 31, 2011, compared to the trailing 12 months ended December 31, 2010, revenues were $23,863,000 compared to revenues of $15,423,000. Gross profit was $9,519,000, with gross profit margin of 39.9%, compared to gross profit of $5,931,000 and gross profit margin of 38.5%. Net income was $3,268,000 or $0.60 per diluted share, including a non-cash tax benefit of $552,000 due to a reduction in the deferred tax valuation allowance and recording of a net deferred tax asset in the fourth quarter of fiscal 2011, compared to $709,000, or $0.13 per diluted share. Income before income tax was $2,771,000 compared to $715,000.

Commenting on the third quarter results, Brent Bailey, President and CEO, said “We continued to make progress on key measures in the third quarter compared to the third quarter of fiscal 2011:

Net sales reached a record level for the fourth consecutive quarter at $6,706,000 (+$2,787,000 and +71%) Gross margin increased to 42.2% (+10.8 pts.) Net Income grew to $1,113,000 (+$1,103,000) Cash increased to $4,190,000 (+$3,461,000 and +475%) Inventory declined to $3,556,000 (-$800,000 and -18%)

In addition, our Nutrex-branded sales grew +74% largely driven by the mainland US natural products distribution channel.”

For the third quarter of fiscal 2012, Spirulina sales accounted for 31% of total revenues and natural Astaxanthin sales for 69%. International sales were 29% of total sales..." Source: February 09, 2012, Cyanotech.

 

Key Statistics:

Trailing P/E: 13.68

ROE: 26.95%

Quarterly Rev Growth: 71.1%

Quarterly Earnings Growth: 11,030.00%

 

 

6 Comments – Post Your Own

#1) On February 25, 2012 at 9:02 AM, gnulaw (51.82) wrote:

Smoking Guns:

This sounds almost heretical but there is disturbing evidence all is not well and I say this on the heels of strong financial results and Nutrex-Hawaii's new website. Most concerns I have already mentioned on previous FOOL CYAN-centric posts (comments 5,7,10)

1. Bioastin Marketing website on Cyanotech.com.

2. CYAN's flagship product BioAstin packaging  (and this is their 2nd-generation release...i.e. they had time to rethink this). 

Points 1 and 2 above are very significant and point to a failed mindset or a mindset that does not even exist. Both of which are definitive smoking guns (potentially very negative indicators barring a takeover), 

Report this comment
#2) On February 25, 2012 at 5:57 PM, gnulaw (51.82) wrote:

Smoking Guns:

3.  CYAN has not, continues to not conduct conference calls 

aligned with release of quarterly numbers. Huge transparency / corporate governance fail.

 

Report this comment
#3) On March 10, 2012 at 8:32 AM, gnulaw (51.82) wrote:

Congratulations to Cyanotech, Cyanotech employees, Senior management (Brent Bailey,  Glenn Jensen, Bob Capelli, esp. Dr. Gerald Cysewski for a very long fought battle, CYAN Board of Directors, and CYAN long-term shareholders (v day-traders) for CYAN shares closing today  in double-digits and hitting another 52-week and ten-year high.

Exceptionally well done Cyanotech.

Report this comment
#4) On May 16, 2012 at 7:06 PM, gnulaw (51.82) wrote:

As of May 16, 2012 and as a matter of record Cyanotech has not reported fiscal 2012 numbers ending March 31st nor have they reported any news since February 9th when they reported Q3 ending December 31, 2011. Sad. They still have a penny-stock mindset but worse they have nothing to say. This is an epic fail folks.

Report this comment
#5) On June 01, 2012 at 6:57 PM, gnulaw (51.82) wrote:

As of June 1, 2012 Cyanotech Management and its Board of Directors have failed to release financials for q4/fy ending March 31, 2012. Unprecedented yet disturbingly continuing patterns for Cyanotech's Senior Management and Board of Directors. Is  Cyanotech capable of shedding its entrenched 30-year penny-stock mindset? (Cyanotech:CYAN) closed at $6.97 today, down from its 52-week high of $11.84.

See Nov 17 2011 Blog (NASDAQ:CYAN) Q2 2012 - Record Sales, Net +66%. The Little Engine That Could (incl comments 1-12).

Report this comment
#6) On June 16, 2012 at 4:43 PM, gnulaw (51.82) wrote:

Update:

As of June 16, 2012 and only weeks from Q1 ending 2013, Cyanotech Management and its Board of Directors have failed to release financials for q4/fy ending March 31, 2012. Unprecedented yet disturbingly continuing patterns for Cyanotech's Senior Management and Board of Directors. Is  Cyanotech capable of shedding its entrenched 30-year penny-stock mindset? (Cyanotech:CYAN) closed at $7.29 Friday, June 15th, down from its 52-week high of $11.84.

See Nov 17 2011 Blog (NASDAQ:CYAN) Q2 2012 - Record Sales, Net +66%. The Little Engine That Could (incl comments 1-12).

 

 

Report this comment

Featured Broker Partners


Advertisement