Profit up 100 Percent and New Contracts Will Fuel Expansion

The company, which also has operations in the island province of Hainan, China, says that its Quarterly sales were $17.7 million, up 46 percent and for the full year, net income was $4.5 million, or 54 cents per share.

A report on Seattle's pi.com, says this figure compares with $900,000, or 15 cents per share, in 2006. Sales were $55 million, up 41 percent from the prior year, said the company.

Shares closed up 31 cents, or 2.7 percent, at $11.70 on Monday. The company began trading on the American Stock Exchange last May.

Also this week, HQ announced a major contract with an unnamed buyer, . HQ Chief Executive, President and co-founder Norbert Sporns said the buyer is an international supplier of 18-pound blocks of frozen tilapia fillets and individual tilapia fillets to restaurants including Burger King and McDonald's, and to retailers including Wal-Mart. He said the contract means the company will rapidly expand.

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