Market Overview

Amira Foods Reports Strong Q4 Figures, Outlook Positive


Shares of Amira Foods Ltd (NYSE: ANFI) surged more than 30 percent at Tuesday's opening bell after the company reported fantastic fourth-quarter earnings on Monday.

The company reported revenue of $186.6 million, indicating a 33.0 percent increase from the last quarter and a 32.3 percent increase on a year-over-year basis.

EPS for Amira came to $0.47, compared to $0.24 in the fourth quarter of 2013.

Analysts had been expecting Amira to report quarterly earnings of $0.33 per share on sales of $162.2 million.

Earnings improved drastically, with adjusted EBITDA increasing 45.4 percent in the quarter to $26.4 million. Adjusted profit after tax nearly doubled from the previous $8.5 million to $16.8 million. Improvement in relevant earnings valuation improve the Amira's enterprise value multiple, making the stock more appealing for potential takeovers and fundamental improvement.

Amira's improved its balance sheet for the year, reporting cash and cash equivalents of $36.6 million making a 10% improvement from the previous year, adjusted net working increased 16.8% in the fourth quarter, coming out to 54.6% of sales.

In the company's report release Amira's CEO, Karan A. Chanana stated, “We are very pleased with our performance in the fourth quarter and full year 2014, where we grew sales dramatically, improved operating margins, nearly doubled income and made significant investment for continued future growth.”

The fourth quarter earnings covered the companies 2015 outlook, estimating revenue and adjusted EBITDA to increase by more than 20 percent. The Company anticipates $1 billion in revenue and $150 million in adjusted EBITDA for the following year, given by its previous expectations released prior to the earnings report.

Shares of Amira last traded at $15.27, up a whopping 17 percent, but well off session highs set just after the opening bell.

Posted-In: Earnings News Guidance Movers


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