s&w seed co (SANW) Snapshot

On May 21, 2013, the board of directors of S&W Seed Company approved and adopted amendments to, and restated, the bylaws of the corporation. The amended and restated bylaws became effective immediately upon their adoption by the board.

S&W Seed Company announced unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2013. For the period the company reported revenues of $4,208,735 compared to $2,549,188 a year ago. Loss from operations was $2,973,495 compared to income from operations of $59,352 a year ago. Adjusted non-GAAP net loss was $640,000, or $0.07 per basic and diluted share, compared to $21,000, or $0.00 per basic and diluted share a year ago. Net loss was $1,872,374, or $0.21 per basic and diluted share compared to net income of $20,641 or $0.00 per basic and diluted share a year ago. Adjusted LBITDA, was $667,476 compared with Adjusted EBITDA of $174,987 a year ago. For the nine months, revenues were $24.6 million, an increase of 84%, compared to $13.4 million a year ago. Adjusted non-GAAP net loss, excluding the stevia impairment charge and acquisition related expenses, was $163,000, or $0.02 per basic diluted share, compared to adjusted non-GAAP net income of $986,000, or $0.17 per basic and diluted share a year ago. Adjusted EBITDA was $517,181, compared with $1,866,790 a year ago. Loss from operations was $2,551,697 compared to income from operations of $1,573,603 a year ago. Net loss was $1,637,009, or $0.21 per basic and diluted share compared to net income of $986.470 or $0.17 per basic and diluted share a year ago. Net cash used in operating activities was $4,563,840 compared to net cash provided by operating activities of $2,824,474 a year ago. Additions to property, plant and equipment were $7,400,169 against $177,682 a year ago. For third quarter the company reported an impairment charge of $1,840,209. The company expects revenues for the fourth quarter of fiscal 2013 to be between $12 and $13 million, compared to the prior year's fourth quarter of $0.8 million.

S&W Seed Company, Q3 2013 Earnings Call, May 13, 2013