Agribusiness  September 28, 2022

S&W Seed reports 1.5% core revenue increase for 2022 fiscal year

LONGMONT — S&W Seed Co. (Nasdaq: SANW) Wednesday reported a 1.5% increase in core revenue for the 2022 fiscal year, to $71.4 million from $69.9 million. 

S&W also reported a 12% revenue decrease for the fourth quarter of the 2022 fiscal year, to $20 million from $22.7 million in the fourth quarter of 2021.

For the 2022 fiscal year, the company’s operating expenses increased by 15.6%, to $39.2 million from $33.9 million. 

“We continue to encounter logistical and operational challenges within our international forage business which again has resulted in the delay of shipments at the end of our fiscal year due to the lack of shipping containers,” S&W president and CEO Mark Wong said in a prepared statement. “We continue to take proactive actions to remedy the situation, however certain macro forces remain outside our control given the tight timelines between harvest and shipment at the end of June. We believe the market for our products remains strong and expect to capture in the first quarter of fiscal 2023 the vast majority of any sales that were unable to be shipped last fiscal year.”

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