* Q1 EPS $0.02 vs $0.08
* Rev up 58 pct to $52.9 mln
* Shares down 5 pct
May 11 Animal feed and pork company AgFeed
Industries Inc FEED.O posted a 65 percent drop in quarterly
earnings, weighed down by lower hog price.
During the first quarter, average hog price was 11 percent
less than a year ago.
"I expect hog prices will begin to appreciate over the next
90 days and will lead to hog prices being 12 percent to 15
percent higher in the second half of the year," Chairman
Songyan Li said in a statement.
For the first quarter, the company posted a net income of
$1.1 million, or 2 cents a share, compared with $2.9 million,
or 8 cents a share a year ago.
Revenue increased 58 percent to $52.9 million.
Shares of the company were down 5 percent at $3.74 Tuesday
morning on Nasdaq.
(Reporting by Vinay Sarawagi in Bangalore; Editing by Don