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S&W Seed meets 3Q profit forecasts

HANFORD, Calif. (AP) _ S&W Seed Co. (SANW) on Wednesday reported fiscal third-quarter profit of $1.3 million.

On a per-share basis, the Hanford, California-based company said it had net income of 2 cents. Earnings, adjusted for one-time gains and costs, were 5 cents per share.

The results matched Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 5 cents per share.

The alfalfa seed company posted revenue of $21 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $27.6 million.

S&W Seed expects full-year revenue in the range of $82 million to $87 million.

In the final minutes of trading on Wednesday, the company's shares hit $4.80. A year ago, they were trading at $4.45.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SANW at https://www.zacks.com/ap/SANW

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Keywords: S&W Seed, Earnings Report