Blue Star Foods reports Q1 EPS (4c) vs. ($1.16) last year

Reports Q1 revenue $2.3M vs. $1.9M last year. John Keeler, Chairman and CEO of Blue Star, commented, “We returned to revenue growth and greatly improved our margins and efficiencies which have led to a significant reduction in our losses. We had a successful seasonal start to production at our RAS platform in South Carolina, which encompasses over 100 tanks and utilizes our proprietary Bio-Plan. Currently, we have more demand that what are able to supply with full tanks of crab peelers against the rapid growth in soft shell crab demand.” Our MSA with the fully integrated seafood provider, previously announced on February 21, which calls for Blue Star to assist with sourcing, operations, and distribution of its products, recovering existing business and securing additional new business for growth opportunities, such as the recently announced execution of a supply agreement to provide manufacturing of Eagle Rising specified innovative food solutions for the U.S. Military, which will roll out to initially 8 military bases over the next few months..”