S&W Seed Company reported net income of $0.38 million, or $0.11 per diluted share, for fiscal 2010. The company reported net income of $0.37 million, or $0.13 per diluted share, in fiscal 2009.
S&W Seed Company reported a sharp increase in sales on a year over basis. The company reported $6.7 million in sales in fiscal 2010, compared to $4.9 million in fiscal 2009.
S&W Seed Company recently became a public company through an initial public offering of stock. The company sold one million units at a price of $11.00 per unit, with each unit consisting of two shares of stock and two warrants.
S&W Seed Company signed an agreement during fiscal 2010 with Pure Circle, which is a large producer of stevia sweeteners. The contract calls for Pure Circle to purchase a minimum of 2.2 million pounds of stevia leaf from the S&W Seed Company over the first two years.
S&W Seed Company also has a solid balance sheet to help carry the company through the uncertain economy. The company reported $7.8 million in cash as of 6/30/2010, with no debt.
For more information on the company, go to www.swseedco.com