China Green Agriculture Q2 Profit Up 29%

(RTTNews) - China Green Agriculture Inc. (CGA) Tuesday announced 29 percent increase in the second quarter net income to $5.5 million from $4.3 million last year. On a per share basis, earnings were $0.15, up 26.5 percent from $0.12 a year ago.

Net sales for the quarter climbed 3.1 percent to $59 million from $57 million a year ago.

Looking ahead to the third quarter, the company expects net income of $4 to $7 million or $0.1 to $0.18 per share and net sales in a range of $71 to $82 million. For the fiscal 2017, the company expects net income of $20 to $27 million and earnings per share of $0.52 to $0.7. Net sales projection for the full year is in a range of $277 to $300 million.