AgJunction Reports 3Q Profit

AgJunction reported financial results for the three and nine-month periods ended September 30, 2013. On September 5, 2012, the company announced a corporate restructuring to focus exclusively on its agriculture business, subsequently selling its non-agriculture business on January 31, 2013.

For the third quarter ended September 30, 2013, the company reported revenues of $11.4 million, an increase of 9% from $10.5 million in the third quarter of 2012. Strong quarterly results in the OEM and Agronomy Service divisions, up 27% and 41%, respectively, from the comparative period, were partially offset by revenue declines in Outback and Air of 2% and 21%, respectively. European revenue growth increased 133% from the comparable period, driven primarily by OEM sales, while the U.S. and Canada both declined by 7%, from the third quarter of 2012.

“I am pleased to report positive earnings during the third quarter which is typically the slowest period during the year,” said Rick Heiniger, President and CEO.

AgJunction, Association member since 2004; agjunction.com.