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S&W Seed Co Reports Net Income of $14.4 Million for the Year Ended June 30, 2023
Annual Revenue of $73.5 Million
S&W Seed Co [SANW], a leading agricultural company, has released its annual financial report for the year ended June 30, 2023. The company reported a net income of $14.4 million, representing a significant improvement compared to the previous year. The annual revenue for the period amounted to $73.5 million, reflecting a steady growth in the company's core business.
S&W Seed Co's financial performance for the year showcased positive results. The company's gross profit reached $14.5 million, a substantial increase from the previous year's figure of $6.4 million. Operating expenses were effectively managed, resulting in a reduction from $39.2 million in the previous year to $32.5 million. This improvement in operating efficiency contributed to narrowing the loss from operations to $17.9 million, compared to a loss of $32.8 million in the previous year.