Omega: Facilities ok after Isaac, but fish-catch expectation lowered

MOSS POINT — Omega Protein Corporation reports, based on preliminary reports from its facilities in Louisiana and Mississippi, that it has suffered no material property damages from Hurricane Isaac.

The Houston, Texas-based company that operates a facility in Moss Point says it suffered only some immaterial impact that is not expected to affect its overall operations, although the review is ongoing.

Omega also announced an update on its fishing efforts as of the close of business on Aug. 26, the end of the 19th week of the company’s 2012 fishing season.

As of Aug. 26, the total fish catch was approximately 427,800 short tons, a 0.1 percent decrease compared to the corresponding 19-week period in the 2011 season and a 21.4 percent increase compared to the company’s five-year average through week 19.

Omega’s fish oil yields were lower by 24.7 percent compared to those in the comparable 19-week period in the 2011 fishing season and were lower by 44.7 percent compared to the five-year oil yield average through week 19. Total yields decreased 5.9 percent compared to the first 19 weeks of the 2011 fishing season, and decreased 11.6 percent compared to the five-year average through week 19 with the decreases due primarily to the lower fish oil yields.

Omega said it expects its fish catch for week 20 (Aug. 27-Sept. 2) to be significantly lower than normal due to the impact of Isaac.

[RSS Feed] []

To sign up for Mississippi Business Daily Updates, click here.



Top Posts & Pages