Cedar Falls, Iowa-based Ag Services of America has reported net revenues for the Q1 2003 up 29% to US$212m from US$164.2m year on year. Net income for the Q1 2003 was US$2.2m, or US$0.39 per diluted share, which was an 18% increase over prior year Q1 earnings of US$1.8m, or US$0.34 per diluted share.