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Shares of Phibro Animal Health  (PAHC) - Get Phibro Animal Health Corporation Class A Report  fell as much as 30% on Wednesday, touching a 52-week low just above $22, after the animal-health- and nutrition-products maker missed fiscal-fourth-quarter-earnings expectations. 

At last check the stock was trading down 24% at $23.93. At the 52-week low $22.05, the stock was off 56% from its 52-week high of $50.05, set a year ago.

For the quarter ended June 30, the Teaneck, N.J., company reported net income fell to $8.8 million, or 22 cents a share, from $22.1 million, or 55 cents, in the year-earlier period. Adjusted earnings were 33 cents against 46 cents. Analysts were expecting an adjusted 36 cents. 

Sales fell 4% to $203.9 million. The company attributed the loss to a drop in sales in its animal-health and mineral-nutrition segments.

"The effects of African swine fever, as discussed last quarter, have significantly impacted our performance in the June quarter and will have an even larger impact in the new fiscal year," Jack Bendheim, chairman, president and CEO, said in a statement.

The outbreak of the disease in China reduced demand for the company's products from the poultry and swine sectors, Phibro said.

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"We have made the strategic decision to continue to accelerate our new-product initiatives despite the challenges posed by ASF, recognizing the short-term impact on our financial results," Bendheim said.

The company also issued guidance for fiscal 2020, including net sales projected to range $833 million to $863 million, an increase of 1% to 4% from fiscal 2019. 

Net income is expected to come in at $34 million to $37 million and earnings per share at 84 cents to 90 cents, down 33% to 37%. Adjusted EPS is pegged at $1.08 to $1.15, down 25% to 29%.

Morgan Stanley said in a note that the revenue-guidance midpoint of $848 million is 1% below the Wall Street consensus of $858 million and its estimate of $860 million.

The midpoint adjusted EPS of $1.12 is 33% below consensus of $1.66 and 31% below the Morgan Stanley projection of $1.61.

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