This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

S&W Announces Financial Results For The First Quarter Ended September 30, 2011

Stocks in this article: SANW

S&W Seed Company (Nasdaq:SANW) today announced financial results for the first quarter of fiscal year 2012 ended September 30, 2011.

First quarter 2012 highlights:

  • Revenues of $6.1 million reflect a six-fold boost from the comparable quarter in fiscal 2011;
  • First commercial stevia harvest completed in September 2011;
  • Gross profit increased 372% to $1.8 million vs. $0.4 million in the comparable quarter;
  • Gross profit margins on seed revenue were up 400 basis points to 27% versus 23% in the comparable quarter of prior year;
  • Net income before income taxes was $875,000; an improvement of $1.2 million from the net loss in the comparable period of the prior year;
  • EBITDA was $946,000 for the quarter, an improvement of $1.2 million versus comparable period of the prior year;
  • Net income totaled $523,000; an improvement of $777,000 over the comparable period of the prior year;
  • Earnings per share was $0.09 versus a loss of ($0.04) per share in the year ago period;
  • S&W's purchase of Genetics International’s alfalfa seed customer base paid immediate dividends in the form of Middle Eastern market share growth, S&W brand awareness and margin expansion.

For the first quarter of fiscal year 2012 S&W reported record revenues of $6.1 million versus $0.9 million in the comparable quarter last year; an increase of 555%. These results reflect the company’s decision to integrate its international distribution and sell directly into international markets, as well as strong demand for the company’s proprietary alfalfa seed varieties. S&W reported net income before income taxes of $875,206 versus a net loss before income taxes of $358,636 in the comparable period of the prior year. Net income totaled $522,765, or $0.09 per diluted share compared to a net loss of $254,079 or $(0.04) per diluted share in the first quarter of the prior year.

The company’s alfalfa seed revenues totaled $5.9 million for the first quarter of fiscal year 2012 compared to $0.7 million in the prior year’s first quarter. Revenues from the company’s milling and processing operations totaled $230,000 in the quarter, compared to $252,000 in the quarter a year ago reflecting timing differences of the fall harvests. The company expects to record its first stevia-related revenues in the second quarter of fiscal year 2012.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs