China Green Agriculture, Inc. (CGA) has reported a 27.91 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $5.50 million, or $0.15 a share in the quarter, compared with $4.30 million, or $0.12 a share for the same period last year.

Revenue during the quarter grew 3.51 percent to $59 million from $57 million in the previous year period. Gross margin for the quarter contracted 711 basis points over the previous year period to 32.54 percent.

Mr. Tao Li, chairman and chief executive officer of the Company, stated, "We are very pleased with our performance in business operation, generating $4.3 million net income in the second quarter ended December 31, 2016," he concluded, "Looking ahead to the Fiscal Year 2017, we expect revenue of $277 to $300 million; net income of $20 to $27 million; and EPS of $0.52 to $0.7 based on 38.5 million fully diluted shares. I believe Zhuoyu Li and his team will continue to execute the Company’s transformational growth strategy successfully."

For the third-quarter 2017, China Green Agriculture, Inc. forecasts revenue to be in the range of $72 million to $82 million. The company projects net income to be in the range of $4 million to $7 million. It expects diluted earnings per share to be in the range of $0.10 to $0.18.

For fiscal year 2017, China Green Agriculture, Inc. forecasts revenue to be in the range of $277 million to $300 million. The company projects net income to be in the range of $20 million to $27 million. It expects diluted earnings per share to be in the range of $0.52 to $0.70.