AgFeed Releases Q2 Results

By: ispeculatornew
Date posted: 08.11.2008 (2:27 pm) | Write a Comment  (0 Comments)

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FEED – AgFeed Industries (NASDAQ) – (Closing Price – $12.77)

AgFeed Industries reported second quarter results today and reported excellent numbers. The company also raised its already impressive full year guidance.

AgFeed reported revenue of 35.6 million and diluted EPS (earnings per share) of 0.12. Revenue improved by over 400% YOY (year over year) and 193% sequentially. Diluted EPS doubled YOY and quadrupled from the previous quarter. AgFeed raised its full year revenue guidance from 135 million to a range of 145 – 155 million and raised its adjusted net EPS guidance from $0.96 – $1.10 to $1.08 – $1.20. The company mentioned the second half of the year traditionally represents its two strongest quarters.

AgFeed opened the day up over 19% from the previous close but finished the day with a gain of only 2%. I attribute this decline to day traders who were looking to sell after earnings regardless of results. I think the stock price will start to trend up after the short term traders exit their positions.

AgFeed just reported very impressive results and the company is coming into its strongest two quarters so I see no reason to sell. I would continue to hold your shares.

Disclaimer: I have no position in FEED.

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