After a huge sales climb in the fiscal second quarter, Cyanotech Corp.'s third quarter kept steady with profits and revenue, a large improvement over the previous year.

Third-quarter revenue for fiscal 2010 increased 12 percent to about $4 million, compared with $3.5 million from the year-earlier quarter.

Net income increased 18 percent to $605,000, or 11 cents a share, compared with $514,000 or 10 cents a share for the third quarter of fiscal 2009.

Cyanotech is a Big Island-based producer of human nutritional products from microalgae. During the third quarter the company launched Hawaiian Spirulina Pacifica Multivitamins.

“;In addition, our re-branding campaign continues to resonate with consumers and increase awareness of Cyanotech's unique value proposition: 'More nutrition. Better health. Purely Hawaiian,'”; said Andrew Jacobson, Cyanotech president and chief executive officer.

Revenue for the first nine months of fiscal 2010 increased 13 percent to $11.9 million, compared with $10.5 million during the same time period in fiscal 2009. Gross profit margin was at 44 percent, compared with 40 percent during the previous year.

“;Despite economic challenges, our focus on business fundamentals remains robust,”; Jacobson said. “;We delivered our most profitable quarter in over 10 years, and we grew our core BioAstin and Hawaiian Spirulina Pacifica businesses both domestically and internationally.”;

BioAstin is a dietary supplement with antitoxidant and other health benefits, including support for healthy joints and ultraviolet protection.

Cyanotech also enjoyed a healthy second quarter, posting a 267 percent increase in earnings as sales improved for its Spirulina and BioAstin products. Cyanotech had the best stock gain of any Hawaii-based company last year.

Cyanotech has recovered from previous years. In fiscal 2009 the company had net income at $1.1 million. However, in fiscal 2008 the company reported a $1.1 million loss, according to filings with the U.S. Securities and Exchange Commission. In fiscal 2007 it posted a $7.4 million loss.

“;With our strong commitment to serving our customers and best in class, nutritionally superior product portfolio, we believe we are well positioned to expand our industry leadership,”; Jacobson said.