KAILUA KONA, Hawaii--(BUSINESS WIRE)--Cyanotech Corporation (Nasdaq:CYAND) announced today that it will continue to delay the filing of its first quarter fiscal year 2007 Form 10-Q and, consequently, will have to delay filing its Form 10-Q for the second quarter of fiscal year 2007. Both 10-Qs are delayed because the Company’s independent registered public accounting firm has not yet rendered any decision with respect to a previously announced accounting issue involving the Company’s historic inventory accounting method. The Company now hopes to file both reports by November 30, 2006, but this is subject to the requirements of the independent registered public accounting firm.
