Monsanto's 1st-quarter sales grow 8 percent |
| Reuters - Jan 6, 2011 |
Monsanto Co (MON.N), the world's largest seed company, matched market expectations with its seasonally lackluster first-quarter earnings results on Thursday, but reaffirmed its financial goals for the full year as it pushes an array of new seed products closer to market.
Its shares slipped slightly, down 0.8 percent in premarket trading, after active advance trading in the shares earlier this week as a number of analysts raised price targets for the company.
Monsanto said it earned $6 million, or a penny a share, in the quarter, compared with a loss of $19 million, or 3 cents a share, a year earlier. Operating earnings were 2 cents a share, matching analysts' expectations.
Net sales increased 8 percent to $1.8 billion, also matching expectations, with increases noted across all major crop segments, led by corn seed and trait sales, which grew to $614 million from $569 million a year ago
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- Posted: 2011-01-06 10:04:35
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