AgFeed Industries, Inc. (NASDAQ: FEED) reports Third Quarter Results

AgFeed Industries, Inc. (NASDAQ: FEED), a leading commercial hog producer, today announced its third quarter financial results for fiscal 2009. AgFeed Industries net income was $2.9 million versus $8.2 million same period year ago, while revenues declined to $45.12 million from $49.43 million last year.

AgFeed Industries earning per share from continuous operations was $0.09 versus $0.08 a year ago. Gross profit stood at $7.6 million for the third quarter versus $12.3 million a year earlier. However, the company reported strong balance sheet position with an increase of $5.6 million to $36.5 million of cash and cash equivalents.

AgFeed Industries moved down by 2.81% or $0.13 at $4.50 in the pre-market trading. So far this year AgFeed is up over 187% and yesterday closed at $4.63. The 52 week trading range for AgFeed is $0.90 - $7.96.