S&W Seed Company files financial results of Seed Genetics International on Form 8-K/A
Five Points, California, USA
June 13, 2013
Acquisition creates the largest non-dormant alfalfa seed company in the world
S&W Seed Company (Nasdaq: SANW) today announced the filing of a Form 8-K/A with the U.S. Securities and Exchange Commission, containing historical financial information and pro forma combined financial statements relating to S&W's April 1, 2013 acquisition of Seed Genetics International ("SGI") and S&W's October 1, 2012 acquisition of Imperial Valley Seeds ("IVS").
Mark Grewal, president and chief executive officer of S&W Seed Company, commented, "The integration of SGI is going well. The Australian harvest has come in much better than we originally estimated and should be a driver for revenues and profits throughout the fourth quarter and next fiscal year. Additionally, we are progressing on a number of the important strategic initiatives that will drive increased value for years to come, including the creation of new blended products and the conversion of acreage located in Australia to S&W's leading varieties which should drive enhanced margins. We are also making strides in our seed breeding program as the expertise of these two organizations comes together. We are pleased with the traction to date, and look forward to continued progress."
Mark Harvey, Vice Chairman of S&W Seed Company and formerly Director of Seed Genetics International, commented, "S&W and SGI are now better positioned to meet the needs of our customers around the globe by providing them with access to a diverse portfolio of the world's leading alfalfa seed genetics. Additionally, with year round production capabilities, customers are able to receive orders in a more timely fashion that better correspond with their planting seasons. This acquisition has allowed the relationships with our customers to get stronger and stronger."
A copy of the form 8-K/A can be found on the SEC's website located at www.sec.gov.
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