China Green Agriculture, Inc. (NYSE:CGA)

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At least one FIE exists in the corporate structure

First Quarter 2017 Financial Results

  • Net sales of first quarter of Fiscal Year 2017 increased 14.2% to $61.9 million, beating guidance $1.9 million.
  • Net income increased 1.5% to $7.4 million, beating guidance $0.4 million; with EPS of $0.20, beating guidance $0.01.

"We are pleased with our strong performance on business operation in the first quarter. As the VIE Companies added $13.3 million to our net sales. Our total net sales increased 14.2% to $61.9 million and net income increased 1.5% to $7.4 million, compared to those of the same period last year," stated Mr. Tao Li, Chairman and Chief Executive Officer of Company. "Looking ahead to the second quarter of fiscal year 2017, we expect net sales between $60 and $65 million, net income between $5 and $7 million, and EPS between $0.13 and $0.19 based on approximately 37.6 million fully diluted weighted average shares outstanding for the second quarter ended December 31, 2016. We are confident about achieving our target for the second quarter of fiscal year 2017."

Web site: http://www.cgagri.com

Last updated November 14, 2016