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S&W Seed swings to loss in fiscal Q2

S&W Seed Co. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was a loss of 3 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 3 cents per share.

The per-share result swung to a loss from the prior-year profit of 1 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $397,410, compared with income of $122,560 in the prior-year period.

The normalized profit margin fell to negative 2.9% from 1.1% in the year-earlier period.

Total revenue climbed 20.4% year over year to $13.8 million from $11.5 million, and total operating expenses grew 27.8% from the prior-year period to $14.2 million from $11.1 million.

Reported net income totaled a loss of $1.5 million, or a loss of 13 cents per share, compared to income of $116,620, or 1 cents per share, in the prior-year period.