Amira Nature Foods Q2 Profit Misses Estimate

(RTTNews) - Amira Nature Foods Ltd (ANFI) reported net income for the second quarter of $8.3 million or $0.29 per share, compared to $5.0 million or $0.18 per share for the year-ago quarter.

Excluding items, adjusted earnings per share for the second quarter was $0.29, compared to $0.18 in the prior year quarter.

Revenue for the second quarter rose 30.9% to $141.4 million from $108.0 million a year ago, mainly due to increases in sales volume, pricing and mix in Amira branded and third party branded sales.

Analyst polled by Thomson Reuters expected the company to earn $0.32 per share on revenue of $132.37 million for the second quarter.

The company reiterated its previously-issued guidance and expects full-year fiscal 2015 revenue and adjusted EBITDA growth in excess of 20%.