CORRECTING and REPLACING - China Green Agriculture Reports First Fiscal Quarter 2018’s Financial Results, Meets Guidance, a...
November 15 2017 - 8:10AM
In a release issued under the same headline earlier today by China
Green Agriculture, Inc. (NYSE:CGA), please note that the "Guidance"
section's first bullet contained incorrect figures. The corrected
release follows:
China Green Agriculture, Inc. (NYSE:CGA) ("China Green
Agriculture" or the "Company"), a company which mainly produces and
distributes humic acid-based compound fertilizers, varieties of
compound fertilizers and agricultural products through its
subsidiaries and variable interest entities in China, today
announced its financial results for the first quarter of Fiscal
Year 2018, and confirmed guidance for full Fiscal Year 2018.
Summary First Fiscal Quarter 2018 Results (USD)
(Three Months ended September 30, 2017)
- Net sales of 62.8 million.
- Gross Profit of 19.1 million.
- Net Income of 5.1 million.
- EPS (Diluted) of $0.13 based on 38.5 million fully diluted
shares.
Guidance
- 2nd Fiscal Quarter 2018: management expects Revenue of $58
million to $65 million; Net Income of $4.7 million to $6 million;
EPS of $0.12 to $0.16 based on 38.5 million fully diluted
shares.
- Fiscal Year 2018: management confirms to expect Revenue of $263
million to $301 million; Net Income of $21 million to $30 million;
EPS of $0.54 to $0.77 based on 38.5 million fully diluted
shares.
"We had finished a solid first quarter in a new
fiscal year," said Mr. Tao Li, the Chairman and CEO of the Company.
"With strong engagement in both manufacturing and wholesales
business, our company’s fundamentals continue to improve. In this
environment, we delivered robust results during the quarter. We
expect that with both manufacturing and wholesales business in
place we will continue to optimize our performance, with the
potential for a great fiscal year 2018."
Conference Call
The Company will hold a conference call at 7:30
a.m. EST on Wednesday, November 15, 2017. Any interested
participants are welcome to join in the call by following the
dial-in details as set out below.
US Dial In (toll free): 1-866-682-6100Int'l Dial In:
1-404-267-0373
A playback will be available through November
22, 2017. To listen, please call 1- 888-640-7743 within the United
States or 1-754-333-7735 when calling internationally. Replay
Access Code# 140385.
Safe Harbor Statement
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 concerning the Company's business, products and
financial results. The Company's actual results may differ
materially from those anticipated in the forward-looking statements
depending on a number of risk factors including, but not limited
to, the following: general economic, business and environment
conditions, development, shipment, market acceptance, additional
competition from existing and new competitors, changes in
technology, the execution of its ten-year growth plan, the foreign
exchange risk amid the unexpected announcements by the PRC
government and various other factors beyond the Company's control.
All forward-looking statements are expressly qualified in their
entirety by this Safe Harbor Statement and the risk factors
detailed in the Company's reports filed with the SEC. China Green
Agriculture undertakes no duty to revise or update any
forward-looking statements to reflect events or circumstances after
the date of this release, except as required by applicable law or
regulations.
For more information, please contact:
China Green Agriculture, Inc.Tel: +86-29-88266383Email:
info@cgagri.com
China Green Agriculture (NYSE:CGA)
Historical Stock Chart
From Aug 2024 to Sep 2024
China Green Agriculture (NYSE:CGA)
Historical Stock Chart
From Sep 2023 to Sep 2024