American Dairy sees sales below estimates, shares fall

(Reuters) - American Dairy Inc (ADY.N) forecast a 10 percent rise in second quarter revenue that fell way short of analyst estimates, sending its shares down to a year low.

The company, which produces and distributes infant formula, milk powder and soybean, rice and walnut products in China, expects sales of about $41 million for the quarter, it said in a statement.

Two analysts on average were expecting sales of $84 million, according to Reuters Estimates.

Sales in the core infant formula business are expected to rise by more than 100 percent for the year.

The company expects revenue of $330 million to $360 million for the full year.

Shares of American Dairy went down as much as 43 percent in Monday morning trade, making it the top loser on the New York Stock Exchange. They were trading down 40 percent at $21.47 later in the morning.

(Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Unnikrishnan Nair)