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Last $16.92 USD
Change Today -0.12 / -0.70%
Volume 111.6K
OME On Other Exchanges
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As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

omega protein corp (OME) Key Developments

Omega Protein Enters into New $125 Million Revolving Credit Facility

Omega Protein Corporation announced that it has entered into a new $125 million revolving credit agreement, which matures in August 2020. This new credit facility replaces both the Company's $70 million credit facility and Bioriginal Canada's $20 million Canadian dollar facility, and is expected to lower aggregate revolving credit facility costs. The Company also announced that it has prepaid $8.4 million of Title XI loans, with coupons ranging from 6.5% to 7.0% and maturity dates occurring through 2020, using borrowings from the new facility. The Company expects that these actions will result in interest expense savings of approximately $0.4 million to $0.6 million over the next twelve months (excluding the impact of writing off approximately $0.1 million of deferred financing costs associated with the retired Title XI debt).

Omega Protein Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Year to Date Ended June 30, 2015; Announces Production Results for the Period as of July 31, 2015; Provides Earnings Guidance for the Second Half of 2015

Omega Protein Corporation reported unaudited consolidated earnings results for the second quarter and year to date ended June 30, 2015. Revenues for the second quarter of 2015 were $93 million, up from $72 million in the same period a year ago. These results reflect efforts to grow and broaden end markets as human nutrition segment revenues grew $30 million, primarily as a result of the Bioriginal business acquired last fall. Net income was $8.8 million or $0.40 per diluted share compared to net income of $6.6 million or $0.31 per diluted share for the same period last year. Adjusted net income was 2015 was $9.6 million or $0.43 per diluted share compared to $8.3 million or $0.38 per diluted share a year ago. Adjusted EBITDA totaled $22 million for the second quarter of 2015, up from $18 million in the same period a year ago. Performance in both animal and human nutrition segments improved over the prior year period driving growth in consolidated revenues and profitability. Operating income was $14,388,000 compared to $10,752,000 a year ago. Income before income taxes was $13,912,000 compared to $10,504,000 a year ago. Adjusted net income was $9,597,000 or $0.43 per diluted share compared to $8,276,000 or $0.38 per diluted share a year ago. For the year-to-date period, revenues increased 22% from $135 million for the six months ended June 30, 2014 to $165 million. The increase in Revenue was due to a $56.2 million increase in human nutrition revenues partially offset by a $26.8 million decrease in animal nutrition revenues. Net income the first 6 months was $10 million, or $0.47 per diluted share compared to $15 million or $0.68 per diluted share for the same period last year. Including adjustments for certain items, net income would have been $12 million or $0.55 per diluted share compared to $17 million or $0.80 per diluted share. Adjusted EBITDA totaled $32 million compared to $37 million for the same period last year. Operating income was $18,048,000 compared to $23,098,000 a year ago. Income before income taxes was $16,559,000 compared to $22,555,000 a year ago. Net cash used in operating activities was $4,262,000 compared to $29,736,000 a year ago. Capital expenditures was $21,030,000 compared to $23,268,000 a year ago. Adjusted net income was $12,224,000 or $0.55 per diluted share compared to $17,305,000 or $0.80 per diluted share a year ago. As of July 31, 2015, the company's total production from Gulf of Mexico operations was approximately 65,000 tons, a 46% increase compared to the corresponding period in 2014. In the Atlantic, the company have produced approximately 28,000 tons of fish meal and fish oil after catching approximately 60% of 2015 quarter. For the second half of 2015, the company generally do not expect significant changes from the first half gross margins, although there may be some degree of quarter-over-quarter volatility.

Omega Protein Corporation to Report Q2, 2015 Results on Aug 05, 2015

Omega Protein Corporation announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 05, 2015

Omega Protein Corporation, Q2 2015 Earnings Call, Aug 06, 2015

Omega Protein Corporation, Q2 2015 Earnings Call, Aug 06, 2015

Omega Protein Corporation Presents at 35th Annual Canaccord Genuity Growth Conference, Aug-13-2015 08:00 AM

Omega Protein Corporation Presents at 35th Annual Canaccord Genuity Growth Conference, Aug-13-2015 08:00 AM. Venue: InterContinental Boston, 510 Atlantic Avenue, Boston, MA 02210, United States. Speakers: Andrew C. Johannesen, Chief Financial Officer and Executive Vice President.

 

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OME

Industry Average

Valuation OME Industry Range
Price/Earnings 26.1x
Price/Sales 1.1x
Price/Book 1.3x
Price/Cash Flow 25.6x
TEV/Sales 0.9x
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