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S&W Seed fiscal Q1 loss widens YOY

S&W Seed Co. said its normalized net income for the fiscal first quarter ended Sept. 30 was a loss of 15 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 16 cents per share.

The per-share loss grew year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.0 million, compared with a loss of $820,090 in the prior-year period.

The normalized profit margin declined to negative 16.4% from negative 10.0% in the year-earlier period.

Total revenue rose 50.1% on an annual basis to $12.3 million from $8.2 million, and total operating expenses increased 55.0% on an annual basis to $14.2 million from $9.2 million.

Reported net income came to a loss of $1.9 million, or a loss of 14 cents per share, compared to a loss of $930,010, or a loss of 8 cents per share, in the year-earlier period.