Shares of Cyanotech Corp., a Kona-based producer of nutritional microalgae products, soared 23 percent today after the company reported a surge in revenue and profits for the October-to--December quarter.

Cyanotech earned $514,000, or 10 cents a share, in the quarter compared to a net loss of $594,000, or 11 cents a share from the same three months a year earlier. Revenue rose to $3.6 million, a 29 percent increase from a year earlier.

"Our focus on quality, cost containment, increased productivity, and sales growth drove our positive results," said Andrew Jacobson, president and chief executive officer.

Earnings for the first nine months of fiscal 2009 totaled $948,000, or 18 cents per share, compared to net loss of $1.3 million, or 25 cents per diluted share for the same period of fiscal 2008. Revenue for the first nine months of fiscal 2009 rose to $10.5 million, a 32.4 increase from a year earlier.

"As exciting as the third quarter and year-to-date results are, the results of our new spirulina cultivation strategy implemented earlier in the fiscal year are even more promising," Jacobson said.

The company was able to increase the nutritional content of some of its products by as much as 200 percent, he sid.

Cyanotech produces a range of products, including the brands BioAstin Natural Astaxanthin and Hawaiian Spirulina Pacifica, from microalgae grown at its 90-acre facility in Konai using patented and proprietary technology.

Cyanotech's shares closed up 34 cents, or 23 percent, at $1.84 on the Nasdaq stock market.