Friday, January 6, 2012

Summary Box: Monsanto 1Q profit surges (AP)

SURGING SEEDS: Monsanto Co. said Thursday its fiscal first-quarter earnings soared on strength of its seed business. The company also brightened its outlook for the full fiscal year. Monsanto said its net income rose to $126 million, or 23 cents per share, for the three months ended Nov. 30. Revenue jumped 33 percent to $2.44 billion.

LATIN FOOD: Growth was driven by demand for corn throughout Latin America. Sales in Monsanto's seeds and genomics segment increased 32 percent to $1.5 billion.

FUTURE FURROWS: For all of fiscal 2012, the St. Louis company expects earnings per share of between $3.39 and $3.44. Analysts expect earnings of $3.47 per share.

Source: http://us.rd.yahoo.com/dailynews/rss/earnings/*http%3A//news.yahoo.com/s/ap/20120105/ap_on_bi_ge/us_earns_monsanto_summary_box

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