American Vanguard reports strong Q1 results, urges vote for board nominees amid Cruiser proxy contest

AMERICAN VANGUARD CORP

Q1 net sales $149.4M (+28.6% YoY), net income $9.9M (+219%), EBITDA $22.9M (+64.7%).
Gross margin 41% improved from guidance; operating expenses dropped to 31% of sales.
Cruiser Capital (0.19% owner) nominated three directors; board found their nominees have no plan or additive expertise.
Board unanimously recommends voting FOR all nine director nominees on WHITE proxy card.
2022 Annual Meeting to be held electronically on June 1, 2022.

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