Q3 2025 Cyanotech Corp Earnings Call - Q&A
Please result IMS.
Kuster, President and Chief Executive Officer of Sinopec, joining me on the call today is Jennifer Robinson, our Chief Financial Officer, I will turn the call over to Jennifer to provide a forward looking statement.
Thanks now our discussion today may include forward looking statements, we do not undertake any obligation to update forward looking statements either as a result of new information future events or otherwise our actual results may differ materially from what is described in these forward looking statement.
Some of the factors that may cause results to differ are listed in our publicly filed documents for additional information and we encourage you to review our 10-Q in fiscal year 2024, 10-K report filed with the Securities and Exchange Commission I'll turn it back to Matt for comments on the quarter Matt.
Matt: I am pleased by our continued progress in the third quarter with a 10, 6% increase in net sales building on the momentum that we established in the first half of the fiscal year.
As we noted last quarter.
Matt: On inventory management and strategic restocking has allowed us to meet demand more effectively the increase in our gross profit to 35, 3% reflects the positive results of those efforts.
Matt: While bulk sales are helping drive growth addressing the slower growth of packaged sales remains a priority.
Matt: We've reduced our operating losses compared to last year. However, we remain focused on navigating these challenges and proceeding cautiously as we enter the next quarter.
Matt: Turning over to Jennifer to discuss the financial results Jennifer.
Jennifer Robinson: Thank you, Matt and good evening, everyone key financial results for the third quarter.
Jennifer Robinson: Total net sales for the third quarter of fiscal 2025, or $6 2 million compared to $5 6 million for the third quarter of fiscal 2024 total sales revenue increased by 590000 or 10, 6% from the prior year.
Jennifer Robinson: Gross profit for the third quarter of fiscal 2025 was 2.18 million with a gross profit margin of 35, 3% compared to a gross profit of 1.65 million and a gross profit margin of 29, 5% in the third quarter of fiscal 2024.
Jennifer Robinson: A five eight percentage point increase due to higher production volumes as Matt mentioned previously.
Jennifer Robinson: Operating loss for the third quarter was 50000 compared to operating loss of 848000 in the third quarter of fiscal 2024, a decrease loss of 798000.
Jennifer Robinson: Net loss for the current quarter was 224000 or three cents per diluted share compared to net loss of 1.02 million or <unk> 16 cents per diluted share in the prior year.
Jennifer Robinson: The company had cash of 359000 and working capital of 602000 compared to 780000 and 550000, respectively. As of September 30th 2024, the increase in working capital is due to higher inventories and higher accounts receivables I will hand, the call back to Matt for <unk>.
Matt: <unk> comments Matt.
Matt: We did not have any questions come in that we're able to answer Aloha.
Matt: Okay.
Matt: Sure.