Enzymotec Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company's net revenues were $11,734,000 compared to $13,395,000 a year ago. The decrease was primarily due a decrease of $3.1 million in sales of krill products, partially offset by an increase of $1.5 million in sales of VAYA Pharma products. Operating income was $158,000 compared to $1,793,000 a year ago. Income before taxes on income was $222,000 compared to $2,220,000 a year ago. Net income was $173,000 compared to $2,264,000 a year ago. Diluted earnings per share was $0.01 0.10 a year ago. Adjusted EBITDA was $1,597,000 compared to $2,883,000 a year ago. Non-GAAP net income was $821,000 compared to $2,674,000 a year ago. Non-GAAP diluted EPS was $0.04 compared to $0.11 a year ago.

For the six months, the company's net revenues were $25,700,000 compared to $24,694,000 a year ago. The increase was primarily due to an increase of $1.0 million in sales of INFAT® products (proportionate consolidation method), an increase of $2.6 million in sales of VAYA Pharma products and increase of $1.0 million in sales of PS products, partially offset by a decrease of $3.4 million in sales of krill products. Operating income was $1,507,000 compared to $3,444,000 a year ago. Income before taxes on income was $1,725,000 compared to $3,970,000 a year ago. Net income was $1,621,000 compared to $4,003,000 a year ago. Diluted earnings per share was $0.07 compared to $0.17 a year ago. Adjusted EBITDA was $4,338,000 compared to $5,566,000 a year ago. Non-GAAP net income was $2,916,000 compared to $4,801,000 a year ago. Non-GAAP diluted EPS was $0.12 compared to $0.21 a year ago. Net cash provided by operating activities was $1,896,000 compared to $5,123,000 a year ago. Purchase of property, plant and equipment was $924,000 compared to $1,608,000 a year ago.

For the full fiscal year 2016, the company provided net revenues of between $52 million and $56 million, net revenues, based on the proportionate consolidation method that is used for segment reporting, of between $65 million and $70 million, non-GAAP net income of between $6 million and $7 million and non-GAAP diluted earnings per share of between $0.25 and $0.30.