EXHIBIT 99.1

AMERICAN VANGUARD CORPORATION

AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

December 31, 2004 and 2003

(Dollars in thousands, except share and per share data)

	2004			2003
Assets
Current assets:
Cash	$	457		$	887
Receivables:
Trade		27,773			27,803
Other		532			394
		28,305			28,197
Inventories		43,635			33,389
Prepaid expenses		1,479			1,057
Deferred tax asset		140			140
Total current assets		74,016			63,670
Property, plant and equipment, net		26,118			21,677
Land held for development		211			211
Intangible assets		21,161			20,307
Other assets		840			869
	$	122,346		$	106,734
Liabilities and Stockholders’ Equity
Current liabilities:
Current installments of long-term debt	$	5,107		$	6,374
Accounts payable		12,984			13,030
Accrued program costs		10,335			6,763
Accrued expenses and other payables		5,791			3,778
Accrued royalty obligations		1,837			1,521
Income taxes payable		1,687			580
Total current liabilities		37,741			32,046
Long-term debt, excluding current installments		17,474			7,942
Note payable to bank		2,000			14,200
Deferred income taxes		1,159			2,212
Total liabilities		58,374			56,400
Commitments and contingent liabilities
Stockholders’ equity:
Preferred stock, $.10 par value per share; authorized 400,000 shares; none issued		—			—
Common stock, $.10 par value per share; authorized 40,000,000 shares; issued 9,931,144 shares in 2004 and 9,764,415 shares in 2003		993			976
Additional paid-in capital		10,553			9,933
Accumulated other comprehensive loss		(207	)		(207	)
Retained earnings		55,378			42,076
		66,717			52,778
Less treasury stock, at cost, 835,049 shares in 2004 and 824,881 shares in 2003		(2,745	)		(2,444	)
Total stockholders’ equity		63,972			50,334
	$	122,346		$	106,734

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AMERICAN VANGUARD CORPORATION

AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Years ended December 31, 2004, 2003 and 2002

(Dollars in thousands)

	2004			2003			2002
Increase (decrease) in cash
Cash flows from operating activities:
Net income	$	14,477		$	10,263		$	7,049
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, plant and equipment		4,042			2,755			1,392
Amortization of other assets		1,758			1,298			945
Deferred income taxes		(1,053	)		833			1,108
Changes in assets and liabilities associated with operations:
(Increase) decrease in receivables		(108	)		(11,003	)		(79	)
Decrease (increase) in inventories		(10,246	)		(12,161	)		2,802
(Increase) decrease in prepaid expenses		(422	)		(187	)		276
Increase (decrease) in accounts payable		(46	)		7,872			(4,241	)
Increase (decrease) in other payables and accrued expenses		7,008			4,754			(1,093	)
Net cash provided by operating activities		15,410			4,424			8,159
Cash flows from investing activities:
Capital expenditures		(8,483	)		(4,448	)		(7,978	)
Increase in intangible assets		(2,612	)		(5,926	)		(1,774	)
Other noncurrent assets		29			(267	)		(69	)
Net cash used in investing activities		(11,066	)		(10,641	)		(9,821	)
Cash flows from financing activities:
Net (repayments) borrowings under line of credit agreement		(12,200	)		6,200			(4,200	)
Proceeds from issuance of long-term debt		12,065			—			10,000
Payments on long-term debt and capital lease obligations		(3,800	)		(2,199	)		(952	)
Exercise of common stock options		637			778			501
Purchase of treasury stock		(301	)		(208	)		(394	)
Payment of cash dividends		(1,175	)		(807	)		(599	)
Net cash provided by (used in) financing activities		(4,774	)		3,764			4,356
Net increase (decrease) in cash		(430	)		(2,453	)		2,694
Cash at beginning of year		887			3,275			853
Effect of exchange rate changes on cash		—			65			(272	)
Cash at end of year	$	457		$	887		$	3,275
Supplemental cash flow information:
Cash paid during the year for:
Interest	$	1,090		$	996		$	879
Income taxes	$	9,402		$	3,620		$	4,731

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