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last update:6 Aug 2012
Shares AgFeed Industries make huge jump
Shares of AgFeed Industries (NASDAQ:FEED) Inc. jumped Wednesday after the
China-based provider of premix animal feed products reported fiscal 2007 results
that were above year-earlier levels, and affirmed its fiscal 2008
outlook.
The stock was up 8.5% at $11.35 on volume of 70,530
shares. The issue's 30-day average volume is about 98,200. Before the opening
bell, AgFeed reported 2007 net income rose to $6.7 million from $1.2 million in
the year-ago period. Earnings per share more than tripled to 25
cents.
Revenue for the fiscal year ended Dec. 31 rose to $36.2 million
from $8.59 million in 2006. For 2008, AgFeed Industries affirmed its outlook for
earnings of 96 cents to $1.10 a share on revenue of about $135
million.
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