American Vanguard Corp. (AVD), a specialty and agricultural products company, Thursday reported an increase in profit for the fourth quarter to $11.3 million, from $6.4 million in the prior year. Earnings per share climbed to $0.39 from $0.23.
On average, 5 analysts polled by Thomson Reuters expected earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.
Also, net sales improved to $104.3 million from $81.8 million. Analysts expected to see revenues of $99.05 million.
Eric Wintemute, Chief Executive, American Vanguard, stated, "Our record-setting performance in 2012, capped by our first $100+ million revenue quarter, was driven by strong end-use demand and consistent business execution by our organization."
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