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Aug. 30, 2012 /PRNewswire/ -- Omega Protein Corporation (NYSE: OME), a nutritional ingredient company and the nation's leading vertically integrated producer of omega-3 fish oil and specialty fish meal products, today announced, based on preliminary reports from its facilities in
Mississippi, that it has suffered no material property damages from Hurricane Isaac. The Company suffered only some immaterial impact that is not expected to affect its overall operations, although the review is ongoing.
The Company also today announced an update on its fishing efforts as of the close of business on
August 26, 2012, the end of the 19th week of the Company's 2012 fishing season.
August 26, 2012, the Company's total fish catch was approximately 427,800 short tons, a 0.1% decrease compared to the corresponding 19 week period in the 2011 season, and a 21.4% increase compared to the Company's 5 year average through week 19.
Omega Protein's fish oil yields were lower by 24.7% compared to those in the comparable 19 week period in the 2011 fishing season and were lower by 44.7% compared to the Company's 5 year oil yield average through week 19. Total yields decreased 5.9% compared to the first 19 weeks of the 2011 fishing season, and decreased 11.6% compared to the Company's 5 year average through week 19 with the decreases due primarily to the lower fish oil yields.
The Company expects its fish catch for week 20 (
August 27 through September 2) to be significantly lower than normal due to the impact of Hurricane Isaac.
The season-to-date production information is based on data for only a portion of a full fishing season. The Company cautions that, because of the month to month volatility of fish catch and oil yields, as well as the potential for operational disruptions due to weather or other events, partial year catch and yield numbers are not necessarily indicative of results that may be achieved for a full year and such full year results could potentially be materially different.