(RTTNews) - Fertilizer producer China Green Agriculture, Inc. (CGA:  News ) Tuesday reaffirmed its previously announced earnings and revenue guidance for fiscal 2010. The group also announced that it has reached its annual sales volume target, representing an increase of over 40% from last year.

For the year 2010, the Xian, China-based company maintained its earnings guidance range of $21.1 million to $21.4 million and earnings per share guidance range of $0.90 to $0.91. China Green also backed its full-year revenues to be between $50.6 million to $51.2 million.

On average, four analysts polled by Thomson Reuters currently expect the group to report earnings of $0.91 per share on revenues of $50.97 million for fiscal 2010. Analysts' estimates typically exclude special items.

Additionally, the company said that as of June 10, 2010, it has reached its annual sales volume target, representing an increase of more than 40% over the prior year total sales volume of 15,042 metric tons.

The company attributes the target achievement to an expanded product mix, effective marketing and sales efforts, and favorable market conditions in China, supported by increased production capacity as a result of the addition of the group's second production line.

Chairman and Chief Executive Officer Tao Li said, "Based on our current level of performance and outlook, we are confident in our ability to increase our sales volume by at least 40% per year over the next two fiscal years due to anticipated strong sales of our HA compound fertilizer products, which could be accelerated through targeted acquisitions."

"With our increased production capacity, new R&D facilities coming on line, expanding geographic footprint and strong working capital position, we are poised to capitalize on further market share gains within the fertilizer industry to drive future revenue growth and profitability," Li added.

CGA is currently trading on the New York Stock Exchange at $10.50 per share, up $0.18 or 1.74%, on a volume of 150,657 shares. In the past 52-week period, the stock traded in a range of $6.56 to $18.70.