S&W Seed (SANW) Reports Q3 Revenues Above Estimates

S&W Seed (NASDAQ: SANW) reported Q3 EPS of $0.08, versus ($0.01) reported last year. Revenue for the quarter came in at $22.9 million versus the consensus estimate of $20.75 million.

Third Quarter Fiscal Year 2018 Financial Highlights and Recent Corporate Developments:

• Revenue during the third quarter of fiscal 2018 was $22.9 million compared to $21.0 million in the third quarter of the prior year;
• Gross profit margins improved by 140 basis points to 29.0%, compared to gross profit margins of 27.6% in the third quarter of fiscal 2017 as S&W continues to execute on its gross margin expansion initiatives;
• Adjusted EBITDA (see Table B) increased to $3.1 million for the third quarter of fiscal 2018, compared to $2.7 million in the third quarter of fiscal 2017;
• GAAP net income (see Table A-1) of $1.8 million, or $0.07 per basic and diluted share during the third quarter of fiscal 2018, compared to GAAP net income of $1.3 million, or $0.07 per basic and $0.02 per diluted share, in the third quarter of fiscal 2017;
• Adjusted non-GAAP net income (see Table A-1) of $1.9 million, or $0.08 per basic and diluted share during the third quarter of fiscal 2018, compared to adjusted non-GAAP net income of $830,000, or $0.05 per basic and diluted share, in the third quarter of fiscal 2017; and
• In April 2018, acquired a selection of sorghum germplasm to expand our portfolio of sorghum products to include biofuel types.

For earnings history and earnings-related data on S&W Seed (SANW) click here.

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