This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

American Vanguard Reports Third Quarter & Nine-Month 2013 Results

Stocks in this article: AVD

American Vanguard Corporation (NYSE:AVD) today announced financial results for the third quarter and nine-month period ended September 30, 2013.

Fiscal 2013 Nine Month Financial Highlights – versus Fiscal 2012 Nine Month Results

  • Net sales improved from $261.9 million to $305.5 million, an increase of 17%
  • Net income improved from $25.6 million to $34.2 million, an increase of 34%
  • Earnings per diluted share improved from $0.89 to $1.18, an increase of 33%

Fiscal 2013 Third Quarter Financial Highlights – versus Fiscal 2012 Third Quarter Results

  • Net sales improved from $89.8 million to $97.2 million, an increase of 8%
  • Net income improved from $8.1 million to $8.9 million, an increase of 10%
  • Earnings per diluted share improved from $0.28 to $0.31, an increase of 11%

Note: Further details are available in the financial schedules attached to this press release

Eric Wintemute, Chairman and CEO of American Vanguard, stated: “We are pleased to report record third quarter and year-to-date revenue and earnings growth. Our quarterly results benefited from strong sales of Bidrin®, Thimet® and our Force® corn soil insecticide in Smartbox. In the face of challenging market dynamics, we have reported our best ever Company performance. Looking forward, as the industry ramps up for the 2014 planting season and prepares to cope with the reported intensification of weed and insect pressure, we are ready to supply growers with the best selection of proven crop protection tools available.”

Mr. Wintemute continued: “We continue to achieve strong gross margin levels, posting 46% in the first nine months of 2013 and 44% in the third quarter. Our 2013 sales have been enhanced by the extended agreement with Monsanto to co-market our Impact® herbicide with their market leading Roundup glyphosate brands. Demand for our wide range of granular soil insecticides continues to grow, as expanding insect resistance encourages the use of our products in conjunction with genetically modified trait seed. Further, we continue to manage our balance sheet for long-term growth and have strengthened our organization to capitalize on promising opportunities in product development, international expansion and non-agricultural pest control markets.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

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