AGT Adjusted Net Earnings Improve

TORONTO - Aug 12/13 - SNS -- Alliance Grain Traders Inc. declared a total comprehensive loss of CDN $11.407 million on revenues of $246.729 million during the second quarter ending June 30, compared to total comprehensive income of $2.187 million on revenues of $201.738 million during the same three-month period last year.

The boosted the company's total comprehensive loss for the first half of the fiscal year to $10.659 million on revenues of $523.169 million, compared to total comprehensive income of $7.924 million on revenues of $399.173 million last year.

In its press release, AGT said, "Adjusted net earnings were $4.9 million for the three months ended June 30, 2013 compared to adjusted net earnings of $0.4 million for the three months ended June 30, 2012 and adjusted net earnings of $5.1 million for the three months ended March 31, 2013."

Improvement in days inventory outstanding to 73 days for the quarter ended June 30, 2013, down from 86 days for the year ended December 31, 2012 and 80 days for the quarter ended June 30, 2012. Days inventory outstanding decreased to 68 days for the six months ended June 30, 2013, from 81 days for the six months ended June 30, 2012.?

Improvement in days accounts receivable outstanding to 69 days for the quarter ended June 30, 2013, down from 76 days for the year ended December 31, 2012 and 74 days for the quarter ended June 30, 2012. Days accounts receivable outstanding decreased to 65 days for the six months ended June 30, 2013, from 75 days for the six months ended June 30, 2012.

"We are pleased with the results reported for the quarter. Buying activities we have seen in India and Turkey in this non-traditional buying period appears positive, assisting in balancing the supply and demand position of global lentil markets. We are optimistic about the continuing gradual improvement of our margins and utilization as we head into a promising North American harvest period. Our diversification strategies in geographies and products are showing positive momentum for the continued recovery of our traditional business," said Murad Al-Katib, President and CEO of AGT.

"Our continued focus on managing our balance sheet and other management initiatives appears to be providing the gradual improvement we have forecasted, especially in this improving business environment. As a management team, we will continue this focus which we feel will assist in growing our new platforms, such as pulse ingredients, as well as our expanding product offerings in our traditional and retail business," added Huseyin Arslan, Executive Chairman of the Board of Directors of AGT. "Continuing our strategy going forward will assist in growing our company and delivering more predictable returns and value to our shareholders."