Home / Markets / Industries / Retail
Monday, November 16, 2009
American Dairy Shares Tank on Revised Outlook
By Darryl R. Isherwood
FOXBusiness
Shares of American Dairy (ADY) plunged 21% Monday after the company drastically revised its full-year outlook.
The company, which distributes infant formula and milk powder in China, cut its 2009 revenue outlook to between $270 and $290 million. It had earlier forecast sales of $330 million to $360 million.
Reuters reported that a company official said the cut was based on a review of October sales, which suggested that fourth-quarter bump the company usually experiences may be less than expected.
American Dairy also posted higher third quarter earnings spurred largely by a shift toward higher margin infant formula products.
The company’s net income from continuing operations hit $11.1 million, or 52 cents per share, compared with a loss of $22.1 million, or $1.32 per share, a year ago.
Revenue increased 94% to $72.1 million.
Fox Business Video
-
-
Lou Dobbs on Immigration
-
Feb 10, 2010
Lou Dobbs: Need rational, humane immigration policy
-
-
-
Lou Dobbs on Health Care
-
Feb 10, 2010
Dobbs on Obama's lack of Dem support on health care
-
-
-
Dobbs: Got to Feel Sorry for G...
-
Feb 10, 2010
Lou Dobbs on the Gov. Paterson controversy
-
-
-
Walt Disney Beats Estimates
-
Feb 10, 2010
Disney’s good results from cable tv, not parks
-
-
-
Gov. Paterson on the Push for ...
-
Feb 10, 2010
Gov. Paterson on his success as governor
-
Last 5 Stocks
- Ticker
- Company
- Price
- Change