Boston, MA 09/15/2014 (wallstreetpr) – According to reports, China Green Agriculture, Inc (NYSE:CGA) reported financial results for the fiscal year 2014 ended June 30, 2014. Along with financial results, it also provided guidelines on net income and revenues for coming months. CGA is known for manufacturing and distributing varieties of compound fertilizers, humic acid-based compound fertilizers and agricultural products in all over the China through various subsidiaries.
Profit, sales and EPS (4QFY2014):
China Green Agriculture, Inc (NYSE:CGA) was able to produce net sales worth $69.8 million in 4QFY2013, while it was able to generate sales of $72.2 million in 4QFY2014. Positive growth in sales didn’t put any impact on company’s gross profit. CGA’s gross profit was as much as $23.7 million in 4QFY2014, lesser than previous year’s $24.5 million. Same was the case with net income of the company. Last year’s $14.3 million was way more than the net income of $4.3 million in 4QFY2014. Diluted EPS for the Q4FY2014 was $0.11, 74.3% lesser than previous year’s EPS.
Some of the main reasons responsible for the negative growth of CGA include COGS which was $45.3 million in the 4QFY2013, while it increased to $48.5 million in the most recent quarter. CGA’s selling expenses for the most recent quarter were $10.5 million compared to $4.3 million of the previous year. When it comes to general and administrative expenses, China Green Agriculture, Inc (NYSE:CGA) incurred $3.1 million in the 4QFY2014 as compared to $2.3 million of last year’s. The operating expenses of CGA were 23.7% of sales in the most recent quarter, as compared to 9.5% in the same period last year. Operating income also came down to $6.6 million as from last 4QFY2013’s $17.9 million.
Profit, sales and EPS (FY2014):
It managed to generate sales worth $233.4 million in the FY2014 as compared to $216.9 million of fY2013. CGA’s gross profit for the current fiscal year was reported as $91.2 million as compared to $79.4 million of last year. Although it managed positive growth in sales and GP, but couldn’t manage the same pace in terms of net profit. Net income of China Green Agriculture, Inc (NYSE:CGA) was $25.5 million for FY2014, less than previous year’s $44.8 million. Last year it managed to earn diluted EPS of $1.61 per share, which came down by 49.6% in current year.
