CYAN - Earnings call transcript Q4 2018

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Mawae Morton

Aloha from Kona, Hawaii. Thank you all for joining us today. We're pleased to report Cyanotech Corporation's fiscal year 2018 earnings results. I am Mawae Morton, Chief Executive Officer for Cyanotech and Nutrex. I’d like to start with our corporate mission statement, which is fulfilling the promise of whole health through Hawaiian microalgae. for also who introduce Harbor will review financial I’d Officer, Chief statement that, our Deal, Jole make results with like our to Financial and And year. the a Safe

to respond Jole financial questions We will several shares after the results.

Jole Deal

Okay.

our saying otherwise. obligation statements. new any today may update information, result of forward-looking statements future by We start include not or do me discussion Let a events, undertake to forward-looking either as

described actual results materially differ these Our statements. from what in forward-looking is may

may results to that listed factors our publicly are the documents. in of Some cause differ filed

XX-Q additional XX-K Exchange encourage For we you information, with to and review Securities our and the filings Commission.

Mawae Morton

you, Thank Jole.

increased Before year million X.X%, compared like net X.X the X.X to profit X Jole margin results and would million of income a improvement for of I year the the discusses point were we out Sales over reported million. with increased details, Gross by loss that an ago. a year. last

overall So improvement an that’s million. of $X.X

Jole Deal

Thanks, Mawae.

through the our for by from percentage costs higher the increase driven of results due go increased compared lower product increase was from with bulk channels. Gross an spirulina offset was that to astaxanthin XXXX. spirulina customers favorable margin fiscal X.X Revenues our Now, mentioned. production. and for supply. production, compared by is higher to in margin This the Hawaii last XX.X% the point along lower XX.X%, for last million, from revenues year, for mix costs the from packaged growth abnormal period which Revenues products year. for year Mawae toward year a XXXX products XX.X%, products XX.X X.X% year I’ll strategic the decreased Nutrex fiscal were reflecting to our Total same

year fiscal We due Our lower year, the tax costs. operating minus in a recognized million net in XX% benefit the to of of legal of as specifically to an primarily the to to the decreased now carryforward, year, new tax This effective XXXX. valuation $X,XXX $XXX,XXX income for Mawae result compared for $X act. a minimum tax compared current expense loss be was million X.X for of the mentioned, expenses And X% alternative fully last tax compared year the we a our of tax XXXX. related to allowance release rate expect refundable under which to period benefit of is fiscal representing the

Mawae Morton

water firstly, sent respond Jole. Should have to operations water in XX% Thanks, We looked who And supply. this to of The supply? we is Supply our January. secondly, can don't a of comment had future water water voluntary in want with those point, Water restrictions? fresh that that and technologies those we water effect encounter together water restrictions foresee were, run I'll measure County At Hawaii about extend the restrictions deal water still any and to to regarding thank I also and filtration two we restrictions at since requiring cycle? now. to on everyone we’ll conservation asked use ways has that sufficient remained questions, we future to water questions Department have

to a are systems the water. cycle future. remain are that and have extend is in that that, will water backup problems prevent also already alternative few the County We identified wells infrastructure technologies a designed repairs, and and -- offline for water as evaluating equipment the sources still are County of similar county implementing fresh Notwithstanding there we we to

such for capacity, natural asked, light production the ponds, space We as and because facility are processing for weather limits levels, availability current capacity constraints current So capacity the spirulina our operate water, systems, of conditions open constraints low warm on also for at were include what and rainfall. good production? astaxanthin pond temperatures, and we favorable

and current strong Another and in the what relationships status customers fiscal this with Costco to Both we Amazon? asked, Costco our XX% expect trend is XXXX, partners. your remain and made Together, continue. sales up Amazon of of question these two

was, what is status question lawsuit lawsuit has that patent in report happy resolved? the or I'm been final the Our the of patent resolved back was to XXXX. that December

to participating. have. So that concludes joining we Aloha. questions and for questions the call for that the submitting want We thank and today you

Cyanotech (CYAN) 20 Jun 182018 Q4 Earnings call transcript