The Hawaiian firm yesterday reported a 9 percent increase in revenues for the first quarter of fiscal 2010 to $4,021,000, compared to $3,701,000 last year.
Cyanotech said the “highest quarterly revenues” in its history were achieved by focusing on cost containment and improved productivity, as well as a strong performance from its astaxanthin and spirulina products.
President and CEO Andrew Jacobson said the firm will be introducing a number of new products in 2010, which will feature these two primary ingredients. Cyanotech has already announced the introduction of condition-specific blends containing its BioAstin astaxanthin, and will shortly also be launching a line of products made with its spirulina ingredient.
The lines will be mainly sold as finished products, but Jacobson said the firm could also work with other supplement manufacturers to provide them with custom formulations.