Agfeed Industries, Inc. (FEED) Reports Record 2nd Q Results, Raises Earnings, Growth Outlook for Rest of Year
With a 619 percent net income increase from this time last year, Agfeed Industries, Inc. (Nasdaq: FEED) shareholders also saw their earnings per share rise 27 cents or 350 percent over the same time period. The second quarter of 2008, which ended June 30, saw a net income of $8.6 million, and total revenues of $35.64 million from the 2nd Quarter in 2007, a 417-percent increase. Agfeed is a commercial hog producer and the largest premix feed company in China. Stable corn prices, import restrictions, and increased efficiency helped company earnings as well as record sales. "AgFeed has direct access…