American Vanguard Corporation (NYSE:AVD), today announced that it will
report financial results for the first quarter of 2015 on Thursday,
April 30, 2015 after the close of the stock market. Details regarding
the conference call appear below.
Eric Wintemute, Chairman and CEO of American Vanguard commented: “In the
first quarter of 2015, we continued to experience soft market
conditions, primarily in the Midwest U.S. corn market. This situation
has been cited by some of our industry peers and commented on by many
expert observers of the U.S. agriculture sector. Lower crop commodity
prices, that inevitably squeeze grower profitability, prompted
purchasing restraint throughout the agricultural input distribution
channel. Current conditions affected the procurement of equipment, seed,
fertilizer, and crop protection products.”
Mr. Wintemute concluded: “As a result, we will be reporting first
quarter revenues that are approximately 18% below our prior year first
quarter levels. Thanks to our significant efforts to manage our
manufacturing costs and operating expenses, we expect to post earnings
that will be approximately breakeven. We remain confident that our
significant participation in other non-corn markets, our disciplined
cost/expense control and our ability to pursue several growth
initiatives, such as our recent acquisition of the Nemacur® product line
in the E.U., will improve our future operating and financial
performance.”
Mr. Wintemute, Bob Trogele, COO and David T. Johnson, CFO, will conduct
a conference call focusing on operating performance and financial
results at 4:30 pm ET / 1:30 pm PT on Thursday, April 30, 2015.
Interested parties may participate in the call by dialing (201) 493-6744
– please dial in 10 minutes before the call is scheduled to begin, and
ask for the American Vanguard call.
The conference call will also be webcast live via the News and Media
section of the Company’s web site at www.american-vanguard.com.
To listen to the live webcast, go to the web site at least 15 minutes
early to register, download and install any necessary audio software. If
you are unable to listen live, the conference call will be archived on
the Company’s web site.
About American Vanguard
American Vanguard Corporation is a diversified specialty and
agricultural products company that develops and markets products for
crop protection and management, turf and ornamentals management and the
control of public and animal health pests. American Vanguard is included
on the Russell 2000® & Russell 3000® Indexes
and the Standard & Poor’s Small Cap 600 Index. To learn more about
American Vanguard, please reference the Company’s web site at www.american-vanguard.com.
In its public commentary, the Company may discuss forward-looking
information. Except for the historical information contained in any of
its public commentary, all forward-looking statements are estimates by
the Company’s management subject to various risks and uncertainties that
may cause results to differ from management’s current expectations. Such
factors include weather conditions, changes in regulatory policy and
other risks as detailed in the Company’s SEC reports and filings. All
forward-looking statements, if any, in this release represent the
Company’s judgment as of the date of this release.
Copyright Business Wire 2015