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Posted: Friday, June 22nd, 2012 8:45 AM HST

Cyanotech profits soar

By Ken Hupp - 67AM KPUA News

Cyanotech Corporation more than doubled its earnings in the latest fiscal year thanks largely to strong demand for its microalgae nutritional supplements made at its 90-acre facility in Kona. The company’s net income rose to $3.6 million, or 66 cents a share, for the 12-month period ending March 31, up 110 percent from $1.7 million, or 32 cents a share during the same period a year earlier. Sales of its Spirulina Pacifica and BioAstin products rose by 46 percent to $24.6 million in fiscal 2012.