This Day On The Street
Continue to site
ADVERTISEMENT
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

Amira Nature Foods Ltd Announces Third Quarter Fiscal Year 2013 Financial Results

Amira Nature Foods Ltd (the "Company")(NYSE: ANFI), a leading global provider of packaged Indian specialty rice, today reported financial results for the third quarter and nine months ended December 31, 2012.

Third Quarter Financial Highlights:

  • Revenue increased 56.2% to $113.9 million, compared to $72.9 million in the third quarter of fiscal 2012.
  • EBITDA increased 57.7% to $14.0 million, compared to $8.9 million in the third quarter of fiscal 2012.
  • Profit after tax increased 94.1% to $4.2 million, compared to $2.1 million in the third quarter of fiscal 2012.
  • Excluding non-recurring IPO-related expenses of approximately $1.8 million, adjusted profit after tax increased 175.6% to $5.9 million, compared to $2.1 million in the third quarter of fiscal 2012.
  • Basic and diluted earnings per share (1) was $0.11 compared to $0.09 for the third quarter of fiscal 2012.
  • For better quarter over quarter comparability, after adjusting for non-recurring IPO-related expenses and using 35.7 million fully diluted shares, adjusted earnings per share was $0.17 compared to $0.06 in the third quarter of fiscal 2012.

“In the third quarter we continued to execute on our strategic initiatives as we experienced increased growth in India and internationally,” stated Karan A. Chanana, Amira’s Chairman and Chief Executive Officer. “We are pleased to report these efforts enabled us to generate revenue and EBITDA ahead of our expectations for the quarter. Going forward, we remain focused on strengthening our distribution in India, further developing our relationships with key retailers globally and continuing our expansion in new, high-growth markets with our strong Basmati and complementary product portfolio to capitalize on a number of growth opportunities around the world.”

Third Quarter Fiscal 2013 Results

Revenue for the third quarter of fiscal 2013 increased 56.2% to $113.9 million, compared to $72.9 million for the same period in fiscal 2012. The revenue increase was primarily due to increased sales volumes both in India and internationally. In addition, our third quarter revenue included $23.6 million associated with shipment of product to a repeat customer as previously disclosed, while the comparable shipment to this customer was made in the fourth quarter of fiscal 2012. Excluding this shipment, revenue for the third quarter of fiscal 2013 would have increased 23.8% to approximately $90.3 million.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG

Markets

DOW 18,285.74 +0.34 0.00%
S&P 500 2,130.82 +4.97 0.23%
NASDAQ 5,090.7940 +19.0510 0.38%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs