Cyanotech Corp. (CYAN, Financial) filed Annual Report for the period ended 2010-03-31.
Cyanotech Corp. has a market cap of $11 million; its shares were traded at around $2.1 with a P/E ratio of 6.2 and P/S ratio of 0.8. CYAN is in the portfolios of Jim Simons of Renaissance Technologies LLC.
be sustainable across periods of days, weeks, or even months. Accordingly, we typically investigate each specific microalgae identified in the scientific literature for potentially marketable products and for solutions to production stability and efficiency challenges, and then strive to develop the technology to grow such microalgae on a commercial scale or to incorporate procedures or technology to improve production stability and efficiency. Successful microalgal product developments and technical solutions are highly uncertain and dependent on numerous factors, many beyond our control. Products and solutions or improvements that appear promising in early phases of development may be found to be ineffective, may be uneconomical because of manufacturing costs or other factors, may be precluded from commercialization due to the proprietary rights of other companies, or may fail to receive necessary regulatory approvals. We had research and development expenditures of $264,000, $206,000 and $143,000 in fiscal years 2010, 2009 and fiscal 2008, respectively. We invested $68,000 in scientific clinical trials during 2010. No investment was made in scientific clinical trials during fiscal 2009 and 2008.
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Cyanotech Corp. has a market cap of $11 million; its shares were traded at around $2.1 with a P/E ratio of 6.2 and P/S ratio of 0.8. CYAN is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
The Company has two major European customers. Sales to a single spirulina customer were approximately $1,027,000, or 7% of our total net sales for the year ended March 31, 2010. Sales to this customer for fiscal 2009 and 2008 were $1,521,000 (11% of net sales) and $1,149,000 (10% of net sales), respectively. Sales to a single astaxanthin customer were approximately $784,000 or 5% of sales for the year ended March 31, 2010. Sales to this customer were $1,806,000 (13% of net sales) and $495,000 (4% of net sales), for the fiscal years 2009 and 2008, respectively. The Company has one major US customer, astaxanthin sales to this customer for the year ended March 31, 2010 were approximately $1,653,000 or 10% of our total net sales. Sales to this customer were approximately $821,000 (6% of net sales) and $656,000 (6% of net sales), for the fiscal years 2009 and 2008, respectively.be sustainable across periods of days, weeks, or even months. Accordingly, we typically investigate each specific microalgae identified in the scientific literature for potentially marketable products and for solutions to production stability and efficiency challenges, and then strive to develop the technology to grow such microalgae on a commercial scale or to incorporate procedures or technology to improve production stability and efficiency. Successful microalgal product developments and technical solutions are highly uncertain and dependent on numerous factors, many beyond our control. Products and solutions or improvements that appear promising in early phases of development may be found to be ineffective, may be uneconomical because of manufacturing costs or other factors, may be precluded from commercialization due to the proprietary rights of other companies, or may fail to receive necessary regulatory approvals. We had research and development expenditures of $264,000, $206,000 and $143,000 in fiscal years 2010, 2009 and fiscal 2008, respectively. We invested $68,000 in scientific clinical trials during 2010. No investment was made in scientific clinical trials during fiscal 2009 and 2008.
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