March 17, 2008

Omega Protein reports 63-percent rise in 2007 net income

Omega Protein Corporation, producer of Omega-3 fish oil and specialty fish meal products, reported a net income of US$12.1 million (US$0.72 a share) for the fiscal year ended December 31, 2007.

The company gained a 63-percent increase against 2006 net income of US$4.6 million (US$0.19 a share).

Omega Protein's 2007 results reflected increased margins primarily due to higher prices in the current year, partially offset by a decline in sales volume of both fish meal and fish oil.

Additionally, results for the three and twelve months ended December 31, 2007 were favorably impacted by the settlement of the lawsuit with its property insurance carriers pertaining to damages sustained from Hurricanes Katrina and Rita in 2005.

Omega Protein Corporation is based in Houston, US, and is the nation's largest manufacturer of fish oils containing Omega-3 fatty acids for human consumption, as well as specialty fish meals and fish oil used as value-added ingredients in aquaculture, swine and other livestock feeds. and Atlantic Coasts.