S&W posts record annual revenue but also a net loss

S&W Seed Co. reported a sizable increase in quarterly revenue en route to a record $81.2 million in revenue for its fiscal year that ended June 30.

S&W specializes in agricultural breeding, production and processing for alfalfa and stevia growers.

The Fresno company’s financial results released Wednesday reflected a fourth-quarter net loss of about $270,000 or 2 cents per share, and a net loss of more than $3.1 million or 12 cents per share for the 2015 fiscal year under generally accepted accounting principles (GAAP). Those compare to a fourth-quarter 2014 profit of about $620,000 and a 2014 fiscal year profit of about $1.5 million.

After applying internal adjustments to account for acquisition costs, impairment charges and non-cash interest expenses, S&W estimated a non-GAAP adjusted net income of about $614,000 or 5 cents per share for the fourth quarter and an adjusted non-GAAP net profit of nearly $1.5 million or 12 cents per share.

S&W stock is traded on Nasdaq under the stock symbol SANW. The company’s shares closed Thursday at $4.45 per share, down 82 cents from Wednesday’s close.

This story was originally published September 16, 2015 at 5:24 PM with the headline "S&W posts record annual revenue but also a net loss."