American Vanguard Says Elevated Channel Inventory will Affect Q4 and Full Year 2013 Performance

American Vanguard Corporation

today announced that elevated channel inventories, arising primarily from prolonged wet weather last spring in the midwestern United States, will affect its fourth quarter and full year 2013 financial performance. Net sales for the fourth quarter of 2013 will be approximately 30% below those of the comparable period in 2012, and we anticipate reporting net earnings that are break-even plus or minus a few cents per share for the quarter. In comparison to full-year 2012 results, net sales for 2013 are expected to be up about 5%, and net income will likely be flat to down 15%.