Martek Biosciences Corp. said on Wednesday its second quarter net income was $9.2 million or 28 cents a share, surpassing analysts forecasts.
The company had a net income of $4.9 million or 15 cents a share in the same period in 2007.
Shares of Martek Biosciences, which develops health and nutritional products from microalgae and fungi, were trading at $36.50 or 2.72 percent down in after hours trading in Nasdaq.
The company posted revenue of $90.7 million in the quarter ended April 30, compared to $76.7 million in 2007. Analysts expected revenue of $85 million.
The group projected third quarter earnings of 23 cents to 25 cents a share on revenue of $85 million to $88 million.
Martek's profit outlook for the full year is of $1.01 to $1.05 a share on revenue of $344 million to $350 million, while analysts forecast profit of $1.02 or $1.03 a share on revenue of $341 million.