Mon, Aug. 24, 12:46 PM
Fri, Aug. 21, 9:15 AM
Thu, Aug. 20, 12:45 PM
Wed, Aug. 19, 6:32 PM
- Amira Nature Foods (NYSE:ANFI) has fired accounting firm Deloitt Haskins & Sells, and hired ASA & Associates to be its new independent auditor. ASA will "commence work immediately to audit the Company's financial results for the fiscal year ended March 31, 2015."
- Amira's audit committee has also "elected to appoint an independent external investigative firm." In a 6-K filing, the company states Deloitte Haskins "requested the Audit Committee retain independent external forensic investigators to conduct an investigation into (i) the issues raised in a short seller report dated July 30, 2015 and (ii) other transactions identified by Deloitte Haskins & Sells LLP in connection with its incomplete audit of the Company’s financial statements for the year ended March 31, 2015."
- The "short seller report" in question was published by SA author Prescience Point, and raised a number of accounting, balance sheet, and cash flow questions. Last week, Amira announced it's suing Prescience Point and others for allegedly "disseminating material false, misleading, and defamatory information."
- Shares have plunged to $4.00 after hours, making new 52-week lows in the process.
Wed, Aug. 19, 5:37 PM
Tue, Aug. 18, 12:45 PM
Tue, Aug. 4, 9:20 AM
Mon, Aug. 3, 12:46 PM
Thu, Jul. 16, 12:46 PM
Thu, Jul. 16, 9:15 AM
Thu, Jul. 16, 8:35 AM
- Amira Nature Foods (NYSE:ANFI) reports revenue increased 27.8% for FY2015 primarily due to increased sales volume and product mix in India and internationally.
- Sales in India grew 28% to $286.8M.
- International sales rose 27.7% to $412.6M.
- Amira branded and third party branded sales +38.6% to $662.4M.
- Adjusted EBITDA increased 31.9% to $99.5M.
- FY2016 Guidance: The company expects double digit growth for Revenue and adjusted EBITDA.
- ANFI +7.21% premarket.
Wed, Jul. 15, 2:58 PM
- Amira Nature Foods (ANFI -5.4%) is sharply lower on strong volume. ahead of tomorrow earnings report.
- The company is still under attack from short seller Prescience Point which maintains either Amira's gross margin will contract significantly in Q4 or the case for fraud at the company is solidified.
- Prescience leans on the declining Basmati realization spread in making its claims.
- There are some heavyweight investment firms on the other side of the trade. Oppenheimer and BMO Capital both have ANFI rated at Outperform on growth expectations and faith in management.
- Shares of ANFI trade at $11.16 vs. the 52-week trading range of $7.41 to $19.86.
Mon, Mar. 2, 9:15 AM
Mon, Mar. 2, 9:01 AM
- Amira Nature Foods (NYSE:ANFI) reports revenue increased 35% in Q4 primarily due to increased sales volume and product mix in India and internationally.
- Sales in India grew 30.7% to $86.6M.
- International sales rose 38.9% to $105.8M.
- Amira branded and third party branded sales +29.2% to $176.4M.
- Adjusted EBITDA increased 36.6% to $27.7M.
- FY2015 Guidance: Revenue and adjusted EBITDA expected to grow more than 25%.
- ANFI +10.52% premarket.
Mon, Mar. 2, 8:16 AM
Wed, Feb. 18, 9:22 AM
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