HOUSTON, June 9 /PRNewswire-FirstCall/ -- Omega Protein
Corporation (NYSE: OME), the nation's leading producer of Omega-3
fish oil and specialty fish meal products, today announced an
update on its fishing efforts as of the close of business on
June 6, 2010, the end of the seventh
week of the Company's 2010 fishing season. As of that date,
the Company's total fish catch (Gulf of
Mexico plus Atlantic) was at approximately 100% of the
Company's total 2010 fish catch plan. However, the Company's
Gulf of Mexico fish catch was 17%
behind its Gulf of Mexico 2010
fish catch plan.
These percentages are based on the Company's projected fish
catch plan for the 2010 fishing season, which in turn is based on
historical fish catch data that varies from year to year. In
addition, these percentages are based only on data for a portion of
a full fishing season. The Company cautions that, because of
the volatility of fish catch generally and the unpredictability of
future effects of the oil spill specifically, no projections or
extrapolations should be made from these numbers.
"The Deepwater Horizon oil spill, which has affected our
business and has led to increased costs, has not had a material
adverse effect on our planned Company-wide fish catch," said
Joe von Rosenberg, Omega Protein
Chairman of the Board and Chief Executive Officer. "Our
previously announced operating plan to reconfigure our Gulf of Mexico fishing fleet to avoid the
areas affected by the oil spill appears so far to be working
well."
The Company does not routinely announce fish catch statistics
but it is doing so in this case because of the uniqueness of the
situation created by the oil spill. The Company does not
currently intend to update this information or make further
announcements regarding fish catch, although it may elect to do so
in the future if circumstances dictate.
About Omega Protein
Omega Protein Corporation is the nation's largest manufacturer
of heart-healthy 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. Omega Protein makes its products from menhaden, an Omega-3
rich fish that is not utilized as seafood, but which is abundantly
available along the U.S. Gulf of
Mexico and Atlantic Coasts.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: The
statements contained in this press release that are not historical
facts are forward-looking statements that involve a number of risks
and uncertainties. The actual results of future events described in
any of these forward-looking statements could differ materially
from those stated in the forward-looking statements. Important
factors that could cause actual results to be materially different
from those forward-looking statements include, among others: (1)
the fact that the oil spill is not yet under control and the
situation may worsen materially, causing further restrictions on
commercial fishing to be implemented, (2) the effect of the oil
spill on the Company's business, operations and fish catch, both
short-term and long-term, (3) the effect of government intervention
in connection with the oil spill, including without limitation, any
restrictions that may be imposed on navigation and access to the
Company's facilities or restrictions on the sale of marine proteins
produced from the Gulf of Mexico,
(4) the disruption and bottlenecks caused by the Company's response
plans on its operations, (5) the effect of the oil spill,
short-term and long-term, on the menhaden fishery or ecosystems
supporting that fishery, and (6) customer perceptions about marine
products from the Gulf of Mexico
due to concerns about contamination or availability. Other factors
are described in further detail in Omega Protein's filings with the
Securities and Exchange Commission, including its reports on Form
10-K, Form10-Q and Form 8-K.
www.omegaproteininc.com
SOURCE Omega Protein Corporation