USAgNet - October 04, 2012
Monsanto Company announced it concluded fiscal year 2012 with ongoing earnings per share growth of 25 percent, and added that it is well-positioned to attain mid-teens ongoing earnings per share growth next year. The company delivered growth in its base business in the United States on the continued
adoption of its key corn and soybean platforms, complemented by international seeds and traits performance.
Executives also highlighted early 2012 U.S. corn harvest results, which reinforce Monsanto's long-standing yield advantage even in one of the most difficult growing seasons on record.
"We've proven our business on a global stage with back-to-back years of tremendous performance and momentum," said Hugh Grant, chairman and chief executive officer for Monsanto. "With more waves of innovation and global opportunities than ever before, I'm confident that by building off what we
accomplished in 2012 we can achieve steady growth in fiscal year 2013 as we continue to deliver sustainable yield to our farmer customers."
Monsanto reported net sales of $2.1 billion for the fourth quarter of fiscal year 2012. Net sales for the full fiscal year were $13.5 billion, a 14 percent increase over fiscal year 2011. Full year net sales results were driven primarily by higher global corn seeds and traits revenue, and increased soybean seeds and
traits revenue in the United States and Brazil.
Seeds and Genomics segment net sales were $1.2 billion for the quarter, a decrease from the prior year. For the fiscal year, net sales for the Seeds and Genomics segment reached $9.8 billion, a 14 percent increase over the prior year. Agricultural Productivity segment net sales were $895 million for the quarter.
Net sales for the Agricultural Productivity segment for the fiscal year grew to $3.7 billion.
Monsanto reported a net loss of $229 million in the fourth quarter of fiscal year 2012, compared with a reported net loss of $112 million in the same period last year. Net income for fiscal year 2012 was $2 billion, an increase over fiscal year 2011 net income of $1.6 billion.
The company's fiscal year 2012 earnings per share (EPS) was $3.70 on an ongoing basis and $3.79 on an as-reported basis. For the fourth quarter, the company reported a loss per share of $0.44 on an ongoing basis and $0.42 on an as-reported basis.