Omega Protein Corporation (NASDAQ:OME)

First Quarter 2013 Financial Results

• Revenues:  $48.9 million for the quarter, compared to $63.1 million in the 2012 fourth quarter and $41.1 million in the 2012 first quarter
• Gross profit margin:  24.7% for the quarter, an increase from 20.5% in the 2012 fourth quarter and 21.6% in the 2012 first quarter
• Net income/loss:  Net income of $2.8 million for the quarter, compared to a net loss of $0.5 million in the 2012 fourth quarter and net income of $1.8 million in the 2012 first quarter
• Earnings:  Earnings per diluted share of $0.14 for the quarter, compared to a loss per diluted share of $0.03 in the 2012 fourth quarter and earnings per diluted share of $0.09 in the 2012 first quarter
• Adjusted EBITDA:  $10.0 million for the quarter, compared to $11.6 million in the 2012 fourth quarter and $7.2 million in the 2012 first quarter

"We continued to benefit from better animal nutrition sales prices which helped us generate our third consecutive quarter of consolidated gross margin expansion and increased earnings versus last year's first quarter. This was achieved despite higher cost per unit of sales associated with the low fish yields in the 2012 fishing season," commented Bret Scholtes, Omega Protein's President and Chief Executive Officer. "We are encouraged by the progress in our human nutrition segment in the first quarter as sales of our OmegaActiv concentrated fish oil continued to grow and we expanded into the dairy protein market with our acquisition of Wisconsin Specialty Protein. We believe our human nutrition segment growth initiatives will drive improved consolidated margins in the long-term."

Mr. Scholtes concluded, "We are focused on creating a more balanced nutrition company, and are optimistic about the opportunities to further grow our human nutrition business. In 2013, we remain dedicated to our mission to help people lead healthier lives through nutrition."