AgFeed Industries Posts Record Revenue (FEED)
By Swing Trader
March 09, 2010 1:02 PM
March 09, 2010 1:02 PM
Shares of AgFeed Industries (NASDAQ: FEED) are higher by more than 14 percent today after the company announced record 2009 revenues.
The animal nutrient and hog production company said it earned a record revenue of $173.2 million in 2009, up 20 percent from 2008. The company also said operating earnings were $0.31 per share in 2009 compared with $0.53 per share in 2008.
AgFeed said production volumes increased 66 percent in the company's hog division and 56 percent in the animal nutrition division. The firm expects to produce approximately 1.25 million hogs in 2011.
Shares are currently up $0.64, or 14.19%, to $5.15. Shares earlier traded as high as $5.43.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
We're Loving
