China Green Agriculture, Inc. (CGA) has reported an 1.20 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $8.20 million, or $0.21 a share in the quarter, compared with $8.30 million, or $0.22 a share for the same period last year.

Revenue during the quarter grew 3.44 percent to $81.30 million from $78.60 million in the previous year period. Gross margin for the quarter contracted 510 basis points over the previous year period to 26.32 percent. Total expenses were 73.68 percent of quarterly revenues, up from 68.58 percent for the same period last year. That has resulted in a contraction of 510 basis points in operating margin to 26.32 percent.

"I am very pleased with the successful acquisitions. They help us take a step forward for transformation of our Company" said Mr. Tao Li, chairman and chief executive officer of the Company. "Our performance in business operations improved, generating $8.2 million net income in the third quarter ended March 31, 2017. Looking ahead to the 2017 Fiscal Year, we expect to reach revenue of $281 to $301 million; net income of $25 to $29 million; and EPS of $0.65 to $0.75, based on 38.6 million fully diluted shares."

For the fourth-quarter 2017, China Green Agriculture, Inc. projects revenue to be in the range of $80 million to $100 million. The comapany expects net income to be in the range of $4 million to $8 million. It forecasts diluted earnings per share to be in the range of $0.10 to $0.21.

For fiscal year 2017, China Green Agriculture, Inc. projects revenue to be in the range of $281 million to $301 million. The company expects net income to be in the range of $25 million to $29 million. It forecasts diluted earnings per share to be in the range of $0.65 to $0.75.