Nutritional product company Omega Protein Corporation (OME) reported revenues amounting to USD 70.8 million for the third quarter in 2014 compared to USD 87.6 million in the same period a year ago, representing a 19 per cent decline.
The firm explains that this decrease was due to a USD 24.7 million decline in animal nutrition revenues because of lower sales volume for the Company's fishmeal and fish oil, partially offset by a USD 7.9 million increase in human nutrition revenues, which is attributable to the acquisition of Bioriginal Food & Science Corp. in early September.
The firm also reported a reduction in the adjusted EBITDA from USD 27.1 million in the third quarter last year to USD 9.3 million for the quarter this year.
"We remain focused on executing our strategic initiatives to drive long-term growth. These initiatives include leveraging our recently strengthened human nutrition product portfolio with the acquisition of Bioriginal Food & Science Corp., as we further diversify and balance our business to take advantage of global health and wellness trends," commented Bret Scholtes, Omega Protein's President and Chief Executive Officer.
"Our third quarter results reflect previously discussed declines in fish catch and fish oil yields compared to last year's exceptional season, which offset continued favorable pricing dynamics in our animal nutrition segment," Scholtes added.
Considering the first nine months of 2014, there was a 16 per cent increase in revenues, amounting to USD 206.2 million compared to revenues of USD 178.3 million for the nine months ended September 30, 2013.
The increase in revenues was due to a USD 19.0 million increase in animal nutrition revenues and an USD 8.8 million increase in human nutrition revenues because of higher sales volumes for the Company's fish oil and higher sales prices for the Company's fishmeal.
Omega Protein operates eight manufacturing facilities located in the United States, Canada and Europe and more than 30 fishing vessels to harvest menhaden, a fish abundantly found off of the coasts of the Atlantic Ocean and Gulf of Mexico. (Article source: Use this link)
The firm explains that this decrease was due to a USD 24.7 million decline in animal nutrition revenues because of lower sales volume for the Company's fishmeal and fish oil, partially offset by a USD 7.9 million increase in human nutrition revenues, which is attributable to the acquisition of Bioriginal Food & Science Corp. in early September.
The firm also reported a reduction in the adjusted EBITDA from USD 27.1 million in the third quarter last year to USD 9.3 million for the quarter this year.
"We remain focused on executing our strategic initiatives to drive long-term growth. These initiatives include leveraging our recently strengthened human nutrition product portfolio with the acquisition of Bioriginal Food & Science Corp., as we further diversify and balance our business to take advantage of global health and wellness trends," commented Bret Scholtes, Omega Protein's President and Chief Executive Officer.
"Our third quarter results reflect previously discussed declines in fish catch and fish oil yields compared to last year's exceptional season, which offset continued favorable pricing dynamics in our animal nutrition segment," Scholtes added.
Considering the first nine months of 2014, there was a 16 per cent increase in revenues, amounting to USD 206.2 million compared to revenues of USD 178.3 million for the nine months ended September 30, 2013.
The increase in revenues was due to a USD 19.0 million increase in animal nutrition revenues and an USD 8.8 million increase in human nutrition revenues because of higher sales volumes for the Company's fish oil and higher sales prices for the Company's fishmeal.
Omega Protein operates eight manufacturing facilities located in the United States, Canada and Europe and more than 30 fishing vessels to harvest menhaden, a fish abundantly found off of the coasts of the Atlantic Ocean and Gulf of Mexico. (Article source: Use this link)
NOTE:
Balai Besar Penelitian dan Pengembangan Pengolahan Produk Kelautan dan Perikanan (Research and Development Center for Marine and Fisheries Product Processing and Biotechnology, BBP4KP) is the research center belonging government to make a product from fisheries and marine material. Many research is doing there include food product and nonfood product.
The term fish processing refers to the processes associated with fish and fish products between the time fish are caught or harvested, and the time the final product is delivered to the customer. Although the term refers specifically to fish, in practice it is extended to cover any aquatic organisms harvested for commercial purposes, whether caught in wild fisheries or harvested from aquaculture or fish farming.
Fish processing can be subdivided into fish handling, which is the preliminary processing of raw fish, and the manufacture of fish products. Another natural subdivision is into primary processing involved in the filleting and freezing of fresh fish for onward distribution to fresh fish retail and catering outlets, and the secondary processing that produces chilled, frozen and canned products for the retail and catering trades.
Balai Besar Penelitian dan Pengembangan Pengolahan Produk Kelautan dan Perikanan (Research and Development Center for Marine and Fisheries Product Processing and Biotechnology, BBP4KP) is the research center belonging government to make a product from fisheries and marine material. Many research is doing there include food product and nonfood product.
The term fish processing refers to the processes associated with fish and fish products between the time fish are caught or harvested, and the time the final product is delivered to the customer. Although the term refers specifically to fish, in practice it is extended to cover any aquatic organisms harvested for commercial purposes, whether caught in wild fisheries or harvested from aquaculture or fish farming.
Fish processing can be subdivided into fish handling, which is the preliminary processing of raw fish, and the manufacture of fish products. Another natural subdivision is into primary processing involved in the filleting and freezing of fresh fish for onward distribution to fresh fish retail and catering outlets, and the secondary processing that produces chilled, frozen and canned products for the retail and catering trades.
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