American Vanguard’s Net Income Climbs 21%
From the Associated Press
Pesticide manufacturer American Vanguard Corp. said its second-quarter profit rose 21% as sales of new products helped increase revenue.
Net income rose to $3.3 million, or 12 cents a share, from $2.8 million, or 11 cents, a year earlier. Revenue grew nearly 15% to $42.7 million from $37.3 million.
Newport Beach-based American Vanguard said the performance of its new corn herbicide, Impact, was exceeding expectations but warned that the growing acceptance of genetically modified corn could hurt its traditional corn soil insecticide market.
