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Last $9.28 USD
Change Today +0.0988 / 1.08%
Volume 2.7K
CYAN On Other Exchanges
As of 2:07 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).

cyanotech corp (CYAN) Snapshot

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52 Week High
04/6/15 - $9.93
52 Week Low
10/16/14 - $4.27
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cyanotech corp (CYAN) Details

Cyanotech Corporation is engaged in the cultivation, production, and sale of natural products derived from microalgae 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 and through resellers. Cyanotech Corporation was founded in 1983 and is headquartered in Kailua-Kona, Hawaii.

94 Employees
Last Reported Date: 06/27/14
Founded in 1983

cyanotech corp (CYAN) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $320.0K
Co-Founder, Chief Scientific Officer, Executi...
Total Annual Compensation: $170.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $206.6K
Compensation as of Fiscal Year 2014.

cyanotech corp (CYAN) Key Developments

Cyanotech Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014

Cyanotech Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2014. For the third quarter of fiscal 2015 compared to the third quarter of fiscal 2014, net sales were $8,842,000 compared to $7,438,000, an increase of 19%. Net income was $304,000 or $0.05 per diluted share, compared to net income of $36,000 or $0.01 per diluted share. Operating income for the quarter was $783,000, a healthy +143% increase versus prior year. The growth was driven by a 49% (+7 pts.) gross margin resulting from strong growth in the Nutrex business and an increase in extraction yields. For the first nine months ended December 31, 2014 compared to the first nine months ended December 31, 2013, net sales were $24,968,000 compared to $21,646,000 an increase of 15%. Net income was $79,000 or $0.01 per diluted share, compared to net income of $172,000 or $0.03 per diluted share. Income from operations was $180,000 against $854,000 a year ago. Income before income tax was $109,000 against $764,000 a year ago.

Cyanotech Names David L. Vied as a Director

David L. Vied of Los Angeles, CA has been elected as a Director by the Board of Directors of Cyanotech Corporation. Mr. Vied was determined under Nasdaq rules to be an independent Director of the Board, which is now comprised of four independent directors and two management directors. Mr. Vied, age 54, serves as the Global Sector Leader, Medical Devices & Diagnostics for Korn Ferry.

Cyanotech Corp. Settles Lawsuit with Florida Firm, University of Illinois

Cyanotech Corp. has settled its patent infringement dispute with a Florida-based nutraceutical company and the Board of Trustees for the University of Illinois. PBN first reported on the dispute in July 2012, which began when Valensa International and the university claimed that Cyanotech's marketing of a product using the antioxidant supplement Astaxanthin for eye health violated their patents for Astaxanthin-based products for eye health. On December 19, 2014, Cyanotech said that all existing litigation and administrative proceedings between Valensa and the board of trustees have been amicably resolved.


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