FollowChina Green Agriculture (CGA) is higher in pre-market trading after the company reported that revenue for Q3, or the quarter ended March 31, 2014, improved year over year despite a decline in earnings; it also cut its fiscal 2014 earnings guidance and the upper end of its revenue guidance.
Shares are up 2.11% at $2.90, but in earlier pre-market trade climbed some 15%.
The China-based fertilizers and agricultural products company reported Q3 earnings of $0.23 per share, compared with $0.48 per share in the prior-year period. Revenue was $70.3 million, up from $65.9 million in the same quarter last year.
No analyst estimates were available for comparison.
The company expects Q4 EPS of $0.19 – $0.22, on revenue of $60 million – $70 million. For fiscal 2014, it has updated its guidance to EPS of $0.85 – $0.88 on revenue of $220 million – $230 million. The previous guidance was for EPS of $1.07 – $1.13 on revemue of $220 million – $250 million.
Nathan Fortin
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