REFILE-UPDATE 1-AgFeed Q3 profit declines 65 percent

Tue Nov 10, 2009 9:47am EST

(Refiles to correct paragraph five to show shares closed on Monday, not Tuesday)

* Q3 EPS $0.07 vs $0.24 a yr ago

* Q3 revenue falls 9 pct to $45.1 mln

Nov 10 (Reuters) - Animal feed and pork company AgFeed Industries Inc FEED.O posted a 65 percent drop in third-quarter earnings, weighed down by higher expenses.

In the latest quarter, the company posted a net income of $2.9 million, or 7 cents a share, compared with $8.2 million, or 24 cents a share, a year ago.

The company said it earned 9 cents a share from continuing operations.

Revenue for the quarter dropped 9 percent to $45.1 million, while operating expenses climbed 29 percent.

Shares of the company closed at $4.63 Monday on Nasdaq. (Reporting by Antonita Madonna Devotta in Bangalore; Editing by Aradhana Aravindan)

Stocks
Markets
Earnings
Non-Cyclical Consumer Goods
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.