$CYAN
CYANOTECH CORP Stock $cyan

$cyan Overview Financials Valuation SEC Filings Company Website

2014 Q1 Form 10-Q Financial Statement

#000110465914007141 Filed on February 06, 2014

Income Statement

Concept	2014 Q1	2013 Q4	2013 Q1
Revenue	$7.019M	$7.401M	$6.897M
YoY Change	1.77%	2.2%	15.22%
Cost Of Revenue	$4.553M	$4.245M	$4.140M
YoY Change	9.98%	-3.02%	5.34%
Gross Profit	$2.466M	$3.156M	$2.707M
YoY Change	-8.9%	10.16%	31.86%
Gross Profit Margin	35.13%	42.64%	39.25%
Selling, General & Admin	$3.190M	$2.696M	$2.030M
YoY Change	57.14%	23.73%	21.56%
% of Gross Profit	129.36%	85.42%	74.99%
Research & Development	$80.00K	$108.0K	$80.00K
YoY Change	0.0%	107.69%	0.0%
% of Gross Profit	3.24%	3.42%	2.96%
Depreciation & Amortization	$310.0K	$290.0K	$230.0K
YoY Change	34.78%	31.82%	21.05%
% of Gross Profit	12.57%	9.19%	8.5%
Operating Expenses	$3.270M	$2.823M	$2.100M
YoY Change	55.71%	26.48%	19.32%
Operating Profit	-$797.0K	$332.0K	$607.0K
YoY Change	-231.3%	-47.55%	107.17%
Interest Expense	-$30.00K	-$29.00K	-$20.00K
YoY Change	50.0%	107.14%	0.0%
% of Operating Profit		-8.73%	-3.29%
Other Income/Expense, Net		-$29.00K
YoY Change		107.14%
Pretax Income	-$1.090M	$293.0K	$510.0K
YoY Change	-313.73%	-52.67%	70.0%
Income Tax	-$500.0K	$257.0K	-$2.080M
% Of Pretax Income		87.71%	-407.84%
Net Earnings	-$590.0K	$40.00K	$2.590M
YoY Change	-122.78%	-93.44%	123.28%
Net Earnings / Revenue	-8.41%	0.54%	37.55%
Basic Earnings Per Share	-$0.09	$0.02	$0.48
Diluted Earnings Per Share	-$0.09	$0.02	$0.47
COMMON SHARES
Basic Shares Outstanding	5.486M shares	5.486M	5.464M shares
Diluted Shares Outstanding		5.659M

Balance Sheet

Concept	2014 Q1	2013 Q4	2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$4.310M	$2.510M	$4.360M
YoY Change	-1.15%	-30.47%	-13.83%
Cash & Equivalents	$4.312M	$2.510M	$4.364M
Short-Term Investments
Other Short-Term Assets	$560.0K	$540.0K	$370.0K
YoY Change	51.35%	28.57%	-15.91%
Inventory	$5.341M	$5.230M	$3.688M
Prepaid Expenses
Receivables	$2.376M	$4.502M	$3.766M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$12.58M	$12.78M	$12.19M
YoY Change	3.22%	8.7%	6.76%
LONG-TERM ASSETS
Property, Plant & Equipment	$14.75M	$11.37M	$11.83M
YoY Change	24.76%	34.18%	102.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$902.0K	$843.0K	$772.0K
YoY Change	16.84%	9.62%	61.51%
Total Long-Term Assets	$17.39M	$17.09M	$16.40M
YoY Change	6.08%	57.87%	115.2%
TOTAL ASSETS
Total Short-Term Assets	$12.58M	$12.78M	$12.19M
Total Long-Term Assets	$17.39M	$17.09M	$16.40M
Total Assets	$29.98M	$29.87M	$28.59M
YoY Change	4.86%	32.28%	50.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$3.147M	$2.437M	$1.852M
YoY Change	69.92%	24.59%	7.3%
Accrued Expenses	$774.0K	$831.0K	$872.0K
YoY Change	-11.24%	4.79%	-35.5%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$200.0K	$202.0K	$128.0K
YoY Change	56.25%	236.67%	-45.3%
Total Short-Term Liabilities	$4.155M	$3.530M	$2.885M
YoY Change	44.02%	23.64%	-14.16%
LONG-TERM LIABILITIES
Long-Term Debt	$5.260M	$5.303M	$5.454M
YoY Change	-3.56%	131.98%	1263.5%
Other Long-Term Liabilities	$10.00K	$20.00K	$20.00K
YoY Change	-50.0%	0.0%	100.0%
Total Long-Term Liabilities	$5.270M	$5.303M	$5.454M
YoY Change	-3.37%	131.98%	1263.5%
TOTAL LIABILITIES
Total Short-Term Liabilities	$4.155M	$3.530M	$2.885M
Total Long-Term Liabilities	$5.270M	$5.303M	$5.454M
Total Liabilities	$9.426M	$8.851M	$8.360M
YoY Change	12.75%	71.63%	121.57%
SHAREHOLDERS EQUITY
Retained Earnings	-$9.450M	-$8.787M	-$9.030M
YoY Change	4.65%	-24.2%	-31.56%
Common Stock	$110.0K	$29.81M	$29.19M
YoY Change	-99.62%	2.72%	2.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$20.55M	$21.02M	$20.16M
YoY Change
Total Liabilities & Shareholders Equity	$29.98M	$29.87M	$28.59M
YoY Change	4.86%	32.28%	50.16%

Cashflow Statement

Concept	2014 Q1	2013 Q4	2013 Q1
OPERATING ACTIVITIES
Net Income	-$590.0K	$40.00K	$2.590M
YoY Change	-122.78%	-93.44%	123.28%
Depreciation, Depletion And Amortization	$310.0K	$290.0K	$230.0K
YoY Change	34.78%	31.82%	21.05%
Cash From Operating Activities	$2.110M	-$130.0K	$1.210M
YoY Change	74.38%	-425.0%	-19.33%
INVESTING ACTIVITIES
Capital Expenditures	-$760.0K	-$750.0K	-$600.0K
YoY Change	26.67%	-62.31%	1.69%
Acquisitions
YoY Change
Other Investing Activities	$480.0K	$160.0K	-$3.080M
YoY Change	-115.58%	-91.88%
Cash From Investing Activities	-$280.0K	-$590.0K	-$3.680M
YoY Change	-92.39%	2850.0%	523.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-40.00K	-40.00K	3.230M
YoY Change	-101.24%	100.0%	-8175.0%
NET CHANGE
Cash From Operating Activities	2.110M	-130.0K	1.210M
Cash From Investing Activities	-280.0K	-590.0K	-3.680M
Cash From Financing Activities	-40.00K	-40.00K	3.230M
Net Change In Cash	1.790M	-760.0K	760.0K
YoY Change	135.53%	696357364258133900.0%	-12.64%
FREE CASH FLOW
Cash From Operating Activities	$2.110M	-$130.0K	$1.210M
Capital Expenditures	-$760.0K	-$750.0K	-$600.0K
Free Cash Flow	$2.870M	$620.0K	$1.810M
YoY Change	58.56%	-69.46%	-13.4%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2014
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
CY2013Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	915000	USD
CY2013Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	303000	USD
CY2013Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	3812000	USD
CY2013Q4	us-gaap	Inventory Supplies Net Of Reserves InventorySuppliesNetOfReserves	200000	USD
CY2013Q4	us-gaap	Inventory Net InventoryNet	5230000	USD
CY2013Q1	cyan	Property Plant And Equipment Gross Before Non Depreciable Items PropertyPlantAndEquipmentGrossBeforeNonDepreciableItems	15976000	USD
CY2013Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	8835000	USD
CY2013Q4	cyan	Property Plant And Equipment Gross Before Non Depreciable Items PropertyPlantAndEquipmentGrossBeforeNonDepreciableItems	18570000	USD
CY2013Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	11122000	USD
CY2013Q4	us-gaap	Construction In Progress Gross ConstructionInProgressGross	3918000	USD
CY2013Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	11366000	USD
CY2013Q4	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	-19000	USD
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	-45000	USD
CY2012Q4	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	-1000	USD
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	-36000	USD
CY2013Q4	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	50000	USD
	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	148000	USD
CY2012Q4	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	0	USD
	us-gaap	Interest Costs Capitalized InterestCostsCapitalized	0	USD
CY2013Q4	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	501000	USD
CY2013Q4	us-gaap	Accrued Marketing Costs Current AccruedMarketingCostsCurrent	93000	USD
CY2013Q4	us-gaap	Accrued Rent Current AccruedRentCurrent	72000	USD
CY2013Q1	us-gaap	Accrued Rent Current AccruedRentCurrent	21000	USD
CY2013Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	165000	USD
CY2013Q1	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	119000	USD
CY2013Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	831000	USD
CY2013Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	872000	USD
CY2013Q4	us-gaap	Long Term Debt LongTermDebt	5505000	USD
CY2013Q1	us-gaap	Long Term Debt LongTermDebt	5582000	USD
CY2013Q4	us-gaap	Long Term Debt And Capital Lease Obligations Current LongTermDebtAndCapitalLeaseObligationsCurrent	202000	USD
CY2013Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	5303000	USD
CY2013Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	5454000	USD
CY2013Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths	202000	USD
CY2013Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Rolling Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo	205000	USD
CY2013Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Rolling Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree	199000	USD
CY2013Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Rolling Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour	203000	USD
CY2013Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Rolling Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive	214000	USD
CY2013Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive	4482000	USD
CY2013Q4	us-gaap	Operating Leases Future Minimum Payments Next Rolling Twelve Months OperatingLeasesFutureMinimumPaymentsNextRollingTwelveMonths	482000	USD
CY2013Q4	us-gaap	Operating Leases Future Minimum Payments Due In Rolling Year Two OperatingLeasesFutureMinimumPaymentsDueInRollingYearTwo	442000	USD
CY2013Q4	us-gaap	Operating Leases Future Minimum Payments Due In Rolling Year Three OperatingLeasesFutureMinimumPaymentsDueInRollingYearThree	341000	USD
CY2013Q4	us-gaap	Operating Leases Future Minimum Payments Due In Rolling Year Four OperatingLeasesFutureMinimumPaymentsDueInRollingYearFour	305000	USD
CY2013Q4	us-gaap	Operating Leases Future Minimum Payments Due In Rolling Year Five OperatingLeasesFutureMinimumPaymentsDueInRollingYearFive	299000	USD
CY2013Q4	us-gaap	Operating Leases Future Minimum Payments Due In Rolling After Year Five OperatingLeasesFutureMinimumPaymentsDueInRollingAfterYearFive	5087000	USD
CY2013Q4	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	6956000	USD
CY2013Q4	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	257000	USD
CY2012Q4	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	12000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	592000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	32000	USD
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.775	pure
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.021	pure
CY2013Q4	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.877	pure
CY2012Q4	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.020	pure
CY2013Q4	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.34	pure
	cyan	Income Taxes State Jurisdictions Number IncomeTaxesStateJurisdictionsNumber	2	item
CY2013Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	USD
CY2013Q4	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	36000	USD
CY2013Q4	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	36000	USD
CY2013Q4	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	5486000	shares
CY2013Q4	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	173000	shares
CY2013Q4	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	5659000	shares
CY2013Q4	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.01
CY2013Q4	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.01
CY2013Q4	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	680142	shares
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	172000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	172000	USD
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	5475000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	181000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	5656000	shares
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.03
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.03
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	725142	shares
CY2012Q4	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	607000	USD
CY2012Q4	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	5464000	shares
CY2012Q4	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	153000	shares
CY2012Q4	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	5617000	shares
CY2012Q4	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.11
CY2012Q4	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.11
CY2012Q4	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	732032	shares
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	1576000	USD
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	5451000	shares
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	1576000	USD
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	241000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	5692000	shares
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.29
	cyan	Earnings Per Share Effect Of Dilutive Securities EarningsPerShareEffectOfDilutiveSecurities	-0.01
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.28
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	198000	shares
CY2013Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized	2275000	shares
CY2013Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant	540851	shares
CY2013Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	1474106	shares
CY2013Q4	us-gaap	Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions	1474106	shares
	us-gaap	Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2 SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2	P7Y7M6D
CY2013Q4	us-gaap	Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1 SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1	4.04
CY2013Q4	us-gaap	Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions	507040	shares
CY2013Q4	us-gaap	Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1 SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1	3.48
	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">1.</font></b><b><font style="FONT-SIZE: 3pt; FONT-WEIGHT: bold;" size="1">                                     </font></b> <b><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">BASIS OF PRESENTATION</font></b></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information pursuant to the instructions to Form 10-Q and Regulation S-X of the Securities and Exchange Commission (SEC).  These interim condensed consolidated financial statements are unaudited and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments and accruals) necessary to present fairly the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, and Condensed Consolidated Statements of Cash Flows for the periods presented in accordance with GAAP. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The Condensed Consolidated Balance Sheet as of March 31, 2013 was derived from the audited financial statements. These condensed consolidated financial statements and notes should be read in conjunction with the Company’s consolidated financial statements for the year ended March 31, 2013, contained in the Company’s annual report on Form 10-K as filed with the SEC on June 24, 2013.</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The accompanying consolidated condensed financial statements include the accounts of Cyanotech Corporation and its wholly owned subsidiary, Nutrex Hawaii, Inc. (“Nutrex Hawaii” or “Nutrex”, collectively the “Company”). All significant intercompany balances and transactions have been eliminated in consolidation.</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the periods reported.  Management reviews these estimates and assumptions periodically and reflects the effect of revisions in the period that they are determined to be necessary.  Actual results could differ from those estimates and assumptions.</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><i><font style="FONT-STYLE: italic; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Recent Accounting Pronouncements</font></i></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">In July 2013, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update No. 2013-11 on the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss or tax credit carryforward, exists.  Under the guidance, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward.  To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets.  The assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date.  The updated guidance is effective for fiscal years and interim periods within those years, beginning after December 15, 2013.  The adoption of this guidance is not expected to have a material effect on the Company’s Consolidated Financial Statements.</font></p> </div>
	dei	Entity Registrant Name EntityRegistrantName	CYANOTECH CORP
	dei	Entity Central Index Key EntityCentralIndexKey	0000768408
	dei	Document Type DocumentType	10-Q
	dei	Document Period End Date DocumentPeriodEndDate	2013-12-31
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--03-31
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Filer Category EntityFilerCategory	Smaller Reporting Company
CY2014Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	5486438	shares
CY2013Q1	us-gaap	Deferred Rent Credit Noncurrent DeferredRentCreditNoncurrent	21000	USD
CY2013Q4	us-gaap	Liabilities Liabilities	8851000	USD
CY2013Q1	us-gaap	Liabilities Liabilities	8360000	USD
CY2013Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2013Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2013Q4	us-gaap	Common Stock Value CommonStockValue	110000	USD
CY2013Q1	us-gaap	Common Stock Value CommonStockValue	109000	USD
CY2013Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	29698000	USD
CY2013Q1	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	29077000	USD
CY2013Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-8787000	USD
CY2013Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	202000	USD
CY2013Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	128000	USD
CY2013Q4	us-gaap	Customer Deposits Current CustomerDepositsCurrent	60000	USD
CY2013Q1	us-gaap	Customer Deposits Current CustomerDepositsCurrent	33000	USD
CY2013Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	2437000	USD
CY2013Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	1852000	USD
CY2013Q4	us-gaap	Liabilities Current LiabilitiesCurrent	3530000	USD
CY2013Q1	us-gaap	Liabilities Current LiabilitiesCurrent	2885000	USD
CY2013Q4	us-gaap	Deferred Rent Credit Noncurrent DeferredRentCreditNoncurrent	18000	USD
CY2013Q1	us-gaap	Deferred Tax Assets Net Current DeferredTaxAssetsNetCurrent	110000	USD
CY2013Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	426000	USD
CY2013Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	263000	USD
CY2013Q4	us-gaap	Assets Current AssetsCurrent	12778000	USD
CY2013Q1	us-gaap	Assets Current AssetsCurrent	12191000	USD
CY2013Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	1851000	USD
CY2013Q1	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	3360000	USD
CY2013Q4	us-gaap	Deferred Tax Assets Net Noncurrent DeferredTaxAssetsNetNoncurrent	3034000	USD
CY2013Q1	us-gaap	Deferred Tax Assets Net Noncurrent DeferredTaxAssetsNetNoncurrent	3429000	USD
CY2013Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	843000	USD
CY2013Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	772000	USD
CY2013Q4	us-gaap	Assets Assets	29872000	USD
CY2013Q1	us-gaap	Assets Assets	28587000	USD
CY2013Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2510000	USD
CY2013Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	4364000	USD
CY2013Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	4502000	USD
CY2013Q1	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	3766000	USD
CY2013Q4	us-gaap	Deferred Tax Assets Net Current DeferredTaxAssetsNetCurrent	110000	USD
CY2013Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-8959000	USD
CY2013Q4	us-gaap	Stockholders Equity StockholdersEquity	21021000	USD
CY2013Q1	us-gaap	Stockholders Equity StockholdersEquity	20227000	USD
CY2013Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	29872000	USD
CY2013Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	28587000	USD
CY2013Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	6000	USD
CY2013Q1	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	6000	USD
CY2013Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.02
CY2013Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.02
CY2013Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	50000000	shares
CY2013Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	50000000	shares
CY2013Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	5486438	shares
CY2013Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	5463938	shares
CY2013Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	5486438	shares
CY2013Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	5463938	shares
CY2013Q4	us-gaap	Sales Revenue Net SalesRevenueNet	7438000	USD
CY2012Q4	us-gaap	Sales Revenue Net SalesRevenueNet	7242000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	21646000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	20684000	USD
CY2013Q4	us-gaap	Cost Of Goods Sold CostOfGoodsSold	4293000	USD
CY2012Q4	us-gaap	Cost Of Goods Sold CostOfGoodsSold	4377000	USD
	us-gaap	Cost Of Goods Sold CostOfGoodsSold	12656000	USD
	us-gaap	Cost Of Goods Sold CostOfGoodsSold	12433000	USD
CY2013Q4	us-gaap	Gross Profit GrossProfit	3145000	USD
CY2012Q4	us-gaap	Gross Profit GrossProfit	2865000	USD
	us-gaap	Gross Profit GrossProfit	8990000	USD
	us-gaap	Gross Profit GrossProfit	8251000	USD
CY2013Q4	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1685000	USD
CY2012Q4	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1175000	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	4502000	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3608000	USD
CY2013Q4	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	1011000	USD
CY2012Q4	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	1004000	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	3195000	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	2722000	USD
CY2013Q4	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	108000	USD
CY2012Q4	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	52000	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	394000	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	183000	USD
CY2013Q4	us-gaap	Operating Expenses OperatingExpenses	2823000	USD
CY2012Q4	us-gaap	Operating Expenses OperatingExpenses	2232000	USD
	us-gaap	Operating Expenses OperatingExpenses	8136000	USD
	us-gaap	Operating Expenses OperatingExpenses	6549000	USD
CY2013Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	322000	USD
CY2012Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	633000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	854000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	1702000	USD
	us-gaap	Extinguishment Of Debt Gain Loss Net Of Tax ExtinguishmentOfDebtGainLossNetOfTax	-51000	USD
CY2013Q4	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-29000	USD
	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-90000	USD
	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-43000	USD
CY2013Q4	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-29000	USD
CY2012Q4	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-14000	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-90000	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-94000	USD
CY2013Q4	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	293000	USD
CY2012Q4	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	619000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	764000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	1608000	USD
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-51000	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	784000	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	619000	USD
	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	32000	USD
	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	84000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	589000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	563000	USD
	us-gaap	Inventory Write Down InventoryWriteDown	-10000	USD
	cyan	Provision For Inventory Reserve ProvisionForInventoryReserve	-3000	USD
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	395000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	736000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1859000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	1539000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-60000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	266000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	95000	USD
	us-gaap	Increase Decrease In Customer Deposits IncreaseDecreaseInCustomerDeposits	27000	USD
	us-gaap	Increase Decrease In Customer Deposits IncreaseDecreaseInCustomerDeposits	-7000	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	585000	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	230000	USD
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-41000	USD
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-559000	USD
	us-gaap	Increase Decrease In Deferred Liabilities IncreaseDecreaseInDeferredLiabilities	-3000	USD
	us-gaap	Increase Decrease In Deferred Liabilities IncreaseDecreaseInDeferredLiabilities	4000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	42000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	692000	USD
	us-gaap	Increase Decrease In Restricted Cash IncreaseDecreaseInRestrictedCash	-1509000	USD
	us-gaap	Increase Decrease In Restricted Cash IncreaseDecreaseInRestrictedCash	281000	USD
	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	3362000	USD
	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	3292000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-1853000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-3573000	USD
	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	2281000	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	78000	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	616000	USD
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	259000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	35000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	23000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	-43000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	1429000	USD
	us-gaap	Net Cash Provided By Used In Continuing Operations NetCashProvidedByUsedInContinuingOperations	-1854000	USD
	us-gaap	Net Cash Provided By Used In Continuing Operations NetCashProvidedByUsedInContinuingOperations	-1452000	USD
	us-gaap	Interest Paid InterestPaid	229000	USD
	us-gaap	Interest Paid InterestPaid	98000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	118000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	57000	USD
CY2012Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	3609000	USD
CY2012Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	5061000	USD
	us-gaap	Debt Instrument Description Of Variable Rate Basis DebtInstrumentDescriptionOfVariableRateBasis	Prime rate
	cyan	Number Of Liability Classified Awards NumberOfLiabilityClassifiedAwards	0	item
CY2013Q4	cyan	Number Of Shareholder Approved Share Based Compensation Plans NumberOfShareholderApprovedShareBasedCompensationPlans	2	item
CY2013Q4	cyan	Noninventoriable Fixed Costs NoninventoriableFixedCosts	44000	USD

Files In Submission

Name	View Source	Status
0001104659-14-007141-index-headers.html	Edgar Link	pending
0001104659-14-007141-index.html	Edgar Link	pending
0001104659-14-007141.txt	Edgar Link	pending
0001104659-14-007141-xbrl.zip	Edgar Link	pending
a13-26848_110q.htm	Edgar Link	pending
a13-26848_1ex31d1.htm	Edgar Link	pending
a13-26848_1ex31d2.htm	Edgar Link	pending
a13-26848_1ex32.htm	Edgar Link	pending
cyan-20131231.xml	Edgar Link	completed
cyan-20131231.xsd	Edgar Link	pending
cyan-20131231_cal.xml	Edgar Link	unprocessable
cyan-20131231_def.xml	Edgar Link	unprocessable
cyan-20131231_lab.xml	Edgar Link	unprocessable
cyan-20131231_pre.xml	Edgar Link	unprocessable
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Financial_Report.xls	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
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R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$CYAN
CYANOTECH CORP Stock $cyan

2014 Q1 Form 10-Q Financial Statement

#000110465914007141 Filed on February 06, 2014

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$CYAN CYANOTECH CORP Stock $cyan

2014 Q1 Form 10-Q Financial Statement

#000110465914007141 Filed on February 06, 2014

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$CYAN
CYANOTECH CORP Stock $cyan