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Cyanotech Reports Financial Results for the Third Quarter and First Nine Months of Fiscal 2021


Press release content from Business Wire. The AP news staff was not involved in its creation.
Cyanotech Reports Financial Results for the Third Quarter and First Nine Months of Fiscal 2021
February 11, 2021 GMT
KAILUA KONA, Hawaii (BUSINESS WIRE) Feb 11, 2021
Cyanotech Corporation (Nasdaq Capital Market: CYAN), a world leader in microalgae-based, high-value nutrition and health products, announced financial results for the third quarter and first nine months of fiscal year 2021, ended December 31, 2020.
Cyanotech’s Chief Executive Officer, Gerald R. Cysewski, Ph.D., said: “Our current quarter results were affected by the timing of product received by customers from our carriers, as well as lower gross profit due to the sale of higher cost inventory. Our e-commerce sales continue to perform well as consumers’ shopping preferences have shifted.” ....

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