S&W closes out 2020 with mixed quarter

LONGMONT — S&W Seed Co. (Nasdaq: SANW) just beat out its revenue expectations in the final quarter of 2020 but ultimately posted a larger-than-expected loss.

The Longmont-based seed developer had revenues of $15.05 million in the quarter but had an earnings-per-share loss of 23 cents, beating Wall Street consensus estimates by $380,000 and missing by 6 cents, respectively, according to data from finance site Seeking Alpha.

S&W ultimately posted a net loss of $8.39 million in the quarter.

Overall, the company generated $28.9 million in revenue throughout 2020, an increase of about $4.3 million from the year prior. However, it posted a net loss of $15.58 million last year, which was $3.92 million more than in 2019.

However, CEO Mark Wong said in a statement that the company is expecting a “transformative” first half of 2021 as it prepares to launch its first proprietary seed, a herbicide-tolerant variant of sorghum. It hopes to replicate that technology with other lesser-traded crops like sunflowers and alfalfa, modelling the strategies used by agricultural giants like Monsanto in developing genetically-modified, weedkiller-resistant corn and soybean seeds.

© 2021 BizWest Media LLC

LONGMONT — S&W Seed Co. (Nasdaq: SANW) just beat out its revenue expectations in the final quarter of 2020 but ultimately posted a larger-than-expected loss.

The Longmont-based seed developer had revenues of $15.05 million in the quarter but had an earnings-per-share loss of 23 cents, beating Wall Street consensus estimates by $380,000 and missing by 6 cents, respectively, according to data from finance site Seeking Alpha.

S&W ultimately posted a net loss of $8.39 million in the quarter.

Overall, the company generated $28.9 million in revenue throughout 2020, an increase of about $4.3 million from the year prior. However, it posted a net loss of $15.58 million last year, which was $3.92 million more than in 2019.

However, CEO Mark Wong said in a statement that the company is expecting a “transformative” first half of 2021 as it prepares to launch its first proprietary seed, a herbicide-tolerant variant of sorghum. It hopes to replicate that technology with other lesser-traded crops like sunflowers and alfalfa, modelling the strategies used by agricultural giants like Monsanto in developing genetically-modified, weedkiller-resistant corn and soybean seeds.

© 2021 BizWest Media LLC