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Stock impact report

Cyanotech Reports Financial Results for the Second Quarter and First Six Months of Fiscal 2020

CYANOTECH CORP (CYAN) 
US:NASDAQ Investor Relations: ruscom.com/cyan/investors/investors.html
Company Research Source: Business Wire
— Net sales increase 10.6% to $7,690,000, operating income was $409,000 for second quarter — KAILUA KONA, Hawaii--(BUSINESS WIRE)--Cyanotech Corporation (Nasdaq Capital Market: CYAN), a world leader in microalgae-based, high-value nutrition and health products, announced financial results for the second quarter and first six months of fiscal year 2020, ended September 30, 2019.Second Quarter Fiscal 2020Cyanotech reported net sales of $7,690,000 for the second quarter of fiscal 2020 compared to $6,954,000 for the second quarter of fiscal 2019. Gross profit was $3,063,000, with gross profit margin of 39.8%, compared to gross profit of $2,285,000 and gross profit margin of 32.9%. Operating income was $409,000 compared to operating loss of ($1,004,000). Net income was $228,000 or $0.04 per diluted share, compared to net loss of ($1,136,000) or ($0.20) per diluted share.Commenting on the second quarter fiscal 2020 results (changes shown vs. the second quarter of fiscal 2019), Cyanotech’ Show less Read more
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