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Last $6.50 USD
Change Today -0.2201 / -3.28%
Volume 4.0K
CYAN On Other Exchanges
As of 4:00 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

cyanotech corp (CYAN) Snapshot

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06/29/15 - $10.85
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10/16/14 - $4.27
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cyanotech corp (CYAN) Details

Cyanotech Corporation engages in the cultivation, production, and sale of natural products derived from microalgae for the human nutrition market worldwide. The company’s products include Hawaiian Spirulina Pacifica, a nutrient-rich dietary supplement that is used for extra energy, a strengthened immune system, cardiovascular benefits, and as a source of antioxidant carotenoids; and Hawaiian BioAstin natural astaxanthin, a dietary antioxidant, which is used as a human nutraceutical and functional food ingredient to support and maintain the body’s natural inflammatory response, enhance skin, and support eye and joint health. Cyanotech Corporation sells its products in bulk quantities to manufacturers, formulators, and distributors in the health foods and nutritional supplements markets; and as packaged consumer products to distributors, retailers, and direct consumers. The company sells its products online. Cyanotech Corporation was founded in 1983 and is headquartered in Kailua-Kona, Hawaii.

113 Employees
Last Reported Date: 07/15/15
Founded in 1983

cyanotech corp (CYAN) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $328.0K
Co-Founder, Chief Scientific Officer, Executi...
Total Annual Compensation: $172.2K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $214.7K
Compensation as of Fiscal Year 2015.

cyanotech corp (CYAN) Key Developments

Cyanotech Corporation and Nutrex Hawaii, Inc. Complete Loan Agreement with First Foundation Bank for $2,500,000 in Aggregate Credit Facilities

Cyanotech Corporation and Nutrex Hawaii Inc. completed a loan agreement with First Foundation Bank in Irvine, California providing for $2,500,000 in aggregate credit facilities pursuant to a term loan agreement dated July 30, 2015. The loan agreement is evidenced by a promissory note in the amount of $2,500,000, and was issued under provisions of a United States Department of Agriculture Rural Development Guarantee program. The proceeds of the loan will be used to acquire new processing equipment and leasehold improvements at its Kona, Hawaii facility. The net proceeds reflect a $500,000 advance from lender on April 21, 2015 which were used for the same purposes. The provisions of the loan include the payment of principal and interest in 84 equal installments of $36,522. Interest on the Loan accrues on the outstanding principal balance at an annual variable rate equal to the published Wall Street Journal prime rate plus 2.0% and is adjustable on the first day of each calendar quarter and fixed for that quarter. At no time shall the annual interest rate be less than 6.00%. The loan terms include a prepayment penalty of 5% for any prepayment made prior to the first anniversary of the date of the loan agreement, which penalty is reduced by 1% each year thereafter until the fifth anniversary of such date, after which there is no prepayment penalty. The loan provides for one-time origination and guaranty fees totaling $85,000 and an annual renewal fee payable in the amount of 0.50% of the USDA guaranteed portion of the outstanding principal balance as of December 31 of each year, beginning December 31, 2015. The USDA has unconditionally guaranteed 80% of all amounts owing under the loan. The Loan is secured by: a second Mortgage, Security Agreement and Financing Statement; Security Agreements and UCC Financing Statements each with the Company and Nutrex; an Assignment of Lessor's Interest in Leases and Rents; a Hazardous Substances Certificate and Indemnity Agreement; a Sublessor's Consent to Mortgage of Sublease K-4; Estoppel Certificate and Subordination Agreement; and the USDA guarantees; each of which is further subject to the terms of the loan agreement and the notes.

Cyanotech Corp. Reports Unaudited Consolidated Earnings Results for First Quarter Ended June 30, 2015

Cyanotech Corp. reported unaudited consolidated earnings results for first quarter ended June 30, 2015. For the quarter, the company reported net sales of $7,594,000 against $7,624,000 a year ago. Loss from operations was $195,000 against $1,048,000 a year ago. Loss before income tax was $219,000 against $1,073,000 a year ago. Net loss was $105,000 or $0.02 per share basic and diluted against $381,000 or $0.07 per share basic and diluted a year ago.

Cyanotech Corporation Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2015

Cyanotech Corporation reported consolidated earnings results for the fourth quarter and full year ended March 31, 2015. For the fourth quarter of fiscal 2015 compared to the fourth quarter of fiscal 2014, net sales were $8,549,000 compared to $7,019,000, an increase of 22%. Operating loss for the quarter was $53,000 compared to an Operating loss of $797,000 for the same quarter last year. Net loss was $171,000 or $0.03 per diluted share, compared to a net loss of $520,000 or $0.09 per diluted share. For fiscal 2015 compared to fiscal 2014, net sales were $33,809,000 compared to $28,178,000, an increase of 20%. Operating income for the year was $322,000 compared to an operating loss of $210,000 for fiscal 2014. The company recognized a net loss for the year of $24,000 or $0.00 per diluted share, compared to a net loss of $420,000 or $0.08 per diluted share. Income before income tax (expense) benefit was $229,000 against $328,000 a year ago.


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Valuation CYAN Industry Range
Price/Earnings 100.0x
Price/Sales 1.1x
Price/Book 1.7x
Price/Cash Flow 148.4x
TEV/Sales 0.9x

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