Omega Protein Corporation recently reported financial results for the second quarter of 2016. The company's revenues increased 21% from $93.2 million in the same period last year to $112.7 million. This increase was due to an increase in animal nutrition revenues of $24.7 million, partially offset by a $5.3 million decrease in human nutrition revenues.

"Our second quarter consolidated financial results reflect the continued strength in our animal nutrition segment," commented Bret Scholtes, Omega Protein\'s President and Chief Executive Officer. "We are pleased with our season-to-date fish catch and higher fish oil yields. Going forward, we will continue to leverage our competitive advantages to drive growth in revenues and further improve operational efficiencies across both our animal and human nutrition segments."

The increase in animal nutrition revenues was primarily due to increased sales volumes of 47% and 101% for the company's fishmeal and fish oil, respectively, partially offset by decreased sales prices of 9% and 20% for the company's fishmeal and fish oil, respectively. The decrease in fish oil sales prices is a reflection of prevailing market conditions and prices when underlying sales contracts were executed, as well as a change in the product mix of higher priced refined and lower priced crude oils.

The decrease in human nutrition revenues was primarily due to lower sales of specialty oils, partially offset by increased sales of protein products. The composition of revenues by nutritional product line for the second quarter of 2016 was 38% fish meal, 33% fish oil, 28% dietary supplements and 1% fish solubles and other.

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