S&W Seed grows profits despite shrinking sales

LONGMONT — S&W Seed Co. (Nasdaq: SANW) turned what was a loss in its third quarter of 2022 into a profit in the most-recent period, despite recording lower year-over-year sales. 

The company posted net attributable income of $32 million on revenues of $17.7 million in the third quarter of its 2023 fiscal year, compared with a loss of $7.36 million on sales of $23.2 million in the third quarter of 2022.

“The $5.5 million decrease in revenue was primarily due to a $3.9 million decrease in product revenue from alfalfa sales to the Middle East and North Africa, United States, European, Asian,…