logo
  Join        Login             Stock Quote

American Vanguard (AVD) 4Q Earnings Jump 77 Pct, Beat Estimates

 February 28, 2013 12:20 PM
 


(By Balaseshan) Chemical maker AmericanVanguard Corp. (NYSE: AVD) reported a 76.6 percent jump in quarterly earnings driven by strong global demand for food, feed, fiber and bio-fuels. Results exceeded Street's expectations.

Earnings for the fourth quarter were $11.3 million or $0.39 per share, up from $6.4 million or $0.23 per share in the previous year quarter.

Net sales increased to $104.3 million from $81.8 million.

Analysts, on average, polled by Thomson Reuters had expected a profit of $0.35 per share on revenue of $99.05 million for the fourth quarter.

In the previous third quarter, the company posted earnings of $0.28 per share on net sales of $90.8 million.

[Related -Sloppy Day For The Indices]

For the fiscal 2012, earnings were $36.8 million or $1.28 per share, up from $22.1 million or $0.79 per share last year. Sales grew 22% to $366.2 million for the full year 2012. Street analysts predicted profit of $1.23 per share on revenue of $362.94 million for the full year.

Gross margin for the year rose to 44% from 41%. Operating expenses remained steady as a percentage of sales at 28%.

American Vanguard develops products for crop protection and management, turf and ornamentals management and public and animal health. Its chemical products include insecticides, fungicides, herbicides and molluscicides, among others.

AVD is trading down 6.31% at $30.14 on Thursday. The stock has been trading between $16.00 and $37.51 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageOmniVision Technologies, Inc. (OVTI) Q1 Earnings Preview: Hard to See Sales Up, EPS Down

OmniVision Technologies, Inc. (NASDAQ:OVTI) will release its financial results for the first quarter of read on...

article imageAvago Technologies Ltd. (AVGO) Q3 Earnings Preview: Going For 20 in a Row

Avago Technologies Ltd. (NASDAQ:AVGO) will report its third quarter fiscal year 2014 financial results and read on...

article imageLevel 3 Communications, Inc. (LVLT): A Good Time To Buy Says Macquarie

On a day Wall Street is struggling to advance, Level 3 Communications, Inc. (NYSE:LVLT) is having no such read on...

article imageAbercrombie & Fitch Co. (ANF) Q2 Earnings Preview: The Unkind Quarter

Abercrombie & Fitch Co. (NYSE:ANF) will be holding its second quarter 2014 earnings conference call for all read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.