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Microcap & Penny Stocks : ABTX - Agribiotech
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To: taxman who wrote (8218)10/13/1999 9:10:00 PM
From: drakes353  Read Replies (2) of 8359
 
Said this today:

He indicated that demand for proprietary seed products remained strong but that lower prices reduced sales during the quarter ended September 30 by at least 10 percent from a year ago. ''The late harvest created a condensed selling season which is pushing some of our sales from the traditionally strong first quarter into the historically slower second quarter. As a result, we will likely report a loss for the first quarter,'' he added.

Said this a month ago:

AgriBioTech Anticipates Strong Fall Sales Season
Says Current Line of Credit Provides Confidence to Growers, Vendors During Seed Harvest Season

HENDERSON, Nev.--(BUSINESS WIRE)--August 27, 1999--AgriBioTech, Inc. (Nasdaq:ABTX - news) said today that the drought on the East Coast has created significant opportunity for a strong fall sales season. ''We are very pleased with the current pace of orders, although the extent and timing of rainfall will affect the amount of turf and forage seed planted. We are at a time when incoming seed inventory is being quickly converted to fall sales. We are receiving seed from growers and shipping to our customers as fast as we can,'' said Richard Budd, Chairman and Chief Executive Officer.

Didn't realize that a drop of 10% constituted "strong" sales in the seed business. Can't even imagine what "weak" sales would have looked like.

The doody gets deeper and deeper, don't it?
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