Umami Reports Second Quarter Results for Fiscal Year 2012 – Fishfarmer Magazine
Umami Reports Second Quarter Results for Fiscal Year 201214 February, 2012 –
Umami Sustainable Seafood Inc. (OTCBB:UMAM), a holding company of fish farms supplying sashimi-grade Northern Bluefin Tuna to the global market, today announced its second quarter financial results for the period ended December 31, 2011.
Second Quarter Highlights
* Net revenue: $55.6 million * Gross margin: 49.9% * Operating income: $24.1 million * Net income: $16.9 million * Basic net income per share: $0.29 * Diluted net income per share: $0.28
Financial ResultsNet revenue was $55.6 million for the three months ended December 30, 2011. Umami is not providing period-over-period comparisons in this release because it believes they are of little use to investors because of significant timing differences in net revenue and related costs between these two periods. For an in-depth discussion of Umami’s financial results for the period ended December 31, 2011, please see Umami’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2011, which was filed with the Securities and Exchange Commission today.
About UmamiUmami Sustainable Seafood Inc. (OTCBB:UMAM) fishes for and farms Bluefin Tuna by employing environmentally sound fishing practices and fish farming practices, referred to as aquaculture. Umami owns and operates Kali Tuna, a Croatian-based aquaculture operation raising Northern Bluefin Tuna in the Croatian part of the Adriatic Sea. It also owns and operates Baja Aqua Farms, a Mexico-based operation for Pacific Bluefin Tuna in the Pacific Ocean off Baja California, Mexico. For more information, please visit http://www.umamiseafood.com.