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Bioriginals boosts Omega Protein results

Omega Protein has announced revenues of $71.6 million for the quarter, compared to $63.5 million in the same period a year ago. Gross profit margin was 20.7% for the quarter, compared to 32.3% in the same period a year ago. Net income was $1.7 million, or $2.6 million on an adjusted basis for the quarter, compared to $8.0 million, or $9.0 million on an adjusted basis, […]

Omega Protein has announced revenues of $71.6 million for the quarter, compared to $63.5 million in the same period a year ago. Gross profit margin was 20.7% for the quarter, compared to 32.3% in the same period a year ago. Net income was $1.7 million, or $2.6 million on an adjusted basis for the quarter, compared to $8.0 million, or $9.0 million on an adjusted basis, in the same period a year ago. Adjusted EBITDA was  $10.4 million for the quarter, compared to $19.1 million in the same period a year ago

“We continued our movement towards becoming a more balanced nutrition company in the first quarter with our human nutrition segment generating a record $35 million of revenues,” said Bret Scholtes, Omega Protein’s President and Chief Executive Officer. “As we expected, our animal nutrition segment experienced lower sales volumes primarily due to lower beginning inventory levels. Looking ahead, our team remains focused on further integrating our recent acquisitions to drive growth and diversification in our nutrition businesses.”

Growth in human nutrition revenues of $26.6 million, offset by a decline in animal nutrition revenues of $18.4 million. The increase in human nutrition revenues was largely due to the addition of Bioriginal, the company said, which was acquired in September 2014.