Cyanotech Reports Continuing Demand for Its Products.Business Editors KAILUA-KONA, Hawaii--(BUSINESS WIRE)--April 5, 2000 Cyanotech Corp. (Nasdaq:CYAN), the world leader in producing high-value, natural products from microalgae, today reported that revenues for the fourth quarter of fiscal 2000, ended March 31, 2000, are expected to exceed $2.2 million, which represents an increase of more than 8 percent over the third quarter of fiscal 2000 and an increase of approximately 24 percent over the fourth quarter of fiscal 1999. "Demand for both Spirulina spirulina Any cyanobacteria in the genus Spirulina. A traditional food source in parts of Africa and Mexico, spirulina is an exceptionally rich source of vitamins, minerals, and protein, and one of the few nonanimal sources of vitamin B12. Pacifica(TM) and natural astaxanthin is continuing to grow and we expect this trend to continue in fiscal 2001," said Gerald R. Cysewski Ph.D., Cyanotech chairman, president and chief executive officer. "Our BioAstin(TM) natural astaxanthin product is gaining acceptance in the natural products industry as a potent antioxidant antioxidant, substance that prevents or slows the breakdown of another substance by oxygen. Synthetic and natural antioxidants are used to slow the deterioration of gasoline and rubber, and such antioxidants as vitamin C (ascorbic acid), butylated hydroxytoluene . The company is also moving ahead to secure proprietary positions for other health benefits of BioAstin through patent filings and clinical trials. Export sales of Spirulina Pacifica remain strong and we see continued growth in the European and Asian markets." The company also announced that the refinancing Refinancing An extension and/or increase in amount of existing debt. of its bank debt is expected to be completed by the end of April 2000. Cyanotech Corp. produces high-value natural products from microalgae, and is the world's largest commercial producer of natural astaxanthin from microalgae. Products include BioAstin(TM), a natural astaxanthin product for use as a human nutritional supplement; NatuRose(TM) natural astaxanthin used in the worldwide aquaculture aquaculture, the raising and harvesting of fresh- and saltwater plants and animals. The most economically important form of aquaculture is fish farming, an industry that accounts for an ever increasing share of world fisheries production. and animal feed industry; Spirulina Pacifica(TM), a nutrient-rich dietary supplement Noun 1. dietary supplement - something added to complete a diet or to make up for a dietary deficiency diet - a prescribed selection of foods vitamin pill - a pill containing one or more vitamins; taken as a dietary supplement ; and phycobiliproteins, which are fluorescent pigments used in the immunological immunologic, immunological emanating from or pertaining to immunology. immunologic competence see immunocompetence. immunologic domains diagnostics market. Cyanotech is the only microalgae company in the world to have an ISO- iso- or is- pref. 1. Equal; uniform: isobar. 2. Isomeric: isopropyl. 3. 9002 Registered Quality System. SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. : Except for statements of historical fact, the statements in this news release are forward-looking. Such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include, but are not limited to, general economic conditions, changes in sales levels to the company's largest customers, weather patterns, risks associated with the acceptance of new products, competition and other factors more fully detailed in the company's recent quarterly 10-Q and annual 10-K filings with the Securities and Exchange Commission. |
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