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Umami Reports USD 16.9 Million Net Income Over Second Quarter 2012

Umami Sustainable Seafood Inc. a holding company of fish farms supplying sashimi-grade Northern Bluefin Tuna to the global market, today announced its second quarter financial results for the period ended December 31, 2011.

Second Quarter Highlights
Net revenue: USD 55.6 million
Gross margin: 49.9%
Operating income: USD 24.1 million
Net income: USD 16.9 million
Basic net income per share: USD 0.29
Diluted net income per share: USD 0.28

Financial Results
Net revenue was USD 55.6 million for the three months ended December 30, 2011. Umami is not providing period-over-period comparisons in this release because it believes they are of little use to investors because of significant timing differences in net revenue and related costs between these two periods. For an in-depth discussion of Umami’s financial results for the period ended December 31, 2011, please see Umami’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2011, which was filed with the Securities and Exchange Commission today.