China Green Agriculture, Inc. (CGA) Friday reported fourth-quarter net income of $4.3 million or $0.11 per share, significantly down from $14.3 million or $0.51 per share in the prior year.
Net sales for the quarter grew 3.4 percent to $72.2 million from $69.8 million a year ago.
Looking ahead, for the first quarter, the company expects earnings per share to be in the range of $0.18 to $0.24, on revenue of $50.7 million to $54.3 million.
For fiscal year 2015, the company anticipates earnings per share to be in the range of $0.8 to $1.08, on revenues of $254.7 million to $268.8 million.
"As we concluded our recent fiscal year, we look forward to a year with no distractions and expenses from the recently resolved class action lawsuit...Furthermore, as we enter into the new fiscal year, China Green Agriculture is on its way to achieving the early benchmarks of our ten-year plan that was announced in the year of 2011," the company said.
CGA closed Thursday's regular trading at $2.29 on the NYSE. In the pre-market on Friday, the shares are up 11.36 percent.
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