S&W Seed posts losses, but expects strong 2021

LONGMONT — S&W Seed Co. (Nasdaq: SANW) posted a loss in the final quarter of its fiscal year Wednesday but believes it’s headed for stronger sales next year. The Longmont-based company posted revenues of $25.8 million in the period ending June 30, a year-over-year drop of almost 45% but just beating Wall Street consensus estimates compiled by finance site Seeking Alpha. It lost 14 cents per share in the period, missing consensus estimates by 7 cents. Its overall revenue in its fiscal year running from June to June was $79.58 million, but it lost 59 cents per share. In a statement, CEO Mark Wong said S&W is expecting revenues to climb next year to between $88 million and $94 million after a full integration with its Australian acquisition target this year. That acquisition “reflects the strategic transformation we have made in our operations to become a multi-crop agricultural company with enhanced focus in the United States and Australia,” he said. S&W was originally based in Sacramento, California, but moved to Longmont last November to be closer to its customer base in the Midwest. © 2020 BizWest Media LLC
Source: BizWest