Monsanto reports 4Q loss, will restate earnings

Source: Yahoo Finance


Monsanto reports 4Q loss, will restate earnings for 2 years because of SEC investigation

Christopher Leonard, AP Agribusiness Writer, On Wednesday October 5, 2011, 9:36 am

ST. LOUIS (AP) -- Monsanto's fourth-quarter results beat Wall Street expectations. But the company says it has to restate the last two year's earnings because of a federal investigation into its herbicide sales.

The world's biggest seed company on Wednesday said a U.S. Securities and Exchange Commission probe will prompt it to restate earnings due to incentives it paid dealers of its Roundup Herbicide. Monsanto had previously announced the investigation, which centers on cash incentives the company paid to boost Roundup's position in an increasingly competitive market. The herbicide was once a mainstay of Monsanto's profits, but is now under pressure from generic versions made in China and elsewhere.

The SEC investigation clouded what was an otherwise bright earnings report. Monsanto said sales of its corn and soybean seeds has been strong, as farmers are willing to pony up more money for Monsanto's newer, more expensive lines of genetically altered seeds that contain several patented traits.

The St. Louis company said it had a net loss of $112 million, or 21 cents per share, for the quarter ended Aug. 31. Monsanto Co. said that adjusted for one-time items, the loss was 22 cents per share. Revenue amounted to $2.25 billion.

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Read more: http://finance.yahoo.com/news/Monsanto-reports-4Q-loss-will-apf-2898348324.html

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Schadenfreude. :rofl:

Poisoners of the planet.

:rofl: :toast: :bounce:

Now drink Roundup and die, you ecocidal traitors.

:eyes:

But you'll pay for it, I assure you.

:nopity:

And their best-selling killer/poison is growing weaker by the day.....

http://www.reuters.com/article/2011/09/20/us-monsanto-superweeds-idUSTRE78J3TN20110920">Super weeds pose growing threat to U.S. crops

- Proving once again: