Leading US producer of Omega-3 fish oil and specialty fish meal products, Omega Protein Corporation, has reported net income for the first quarter of 2003 of $2.6 million (11 cents a share), compared with a net income of $2.7 million (11 cents a share) for the first quarter of the previous year.

Revenues for the first quarter of 2003, which ended March 31, were $25.1 million, versus revenues of $23.5 million for the year-earlier quarter. Omega Protein had operating income of $4.2 million for the first quarter of 2003, compared with operating income of $4.5 million in the comparable quarter of the previous year. First quarter 2003 margins were reduced from the prior year's comparable quarter due to higher cost inventory being carried forward into 2003.

Consolidated financial results for the first quarter of 2003 for parent company, Zapata Corporation showed income of $750,000 or $0.31 per share on revenues of $25.1 million for the three months ended March 31, 2003 compared to consolidated net income of $1.2 million or $0.51 per share on revenues of $23.5 million for the three months ended March 31, 2002.