- Waller deemed competent to stand trial (1/11/17)5
- Young Elvis impersonator from Bernie performs on 'Ellen DeGeneres Show' (1/12/17)
- 113 drug tests at Jackson High net one instance of illicit usage (1/11/17)14
- Two subjects of interest in 1992 homicide to take polygraph tests (1/15/17)6
- Two men shot after argument; houses also struck by bullets (1/12/17)21
- Imo's Pizza will be added to Rhodes 101 convenience store in Jackson (1/10/17)16
- Cape SportsPlex contractor offers a look at the project (1/15/17)8
- Juvenile accused of stealing, damaging playground statue (1/9/17)25
- Two Cape men recovering after shooting (1/13/17)
- Business notebook: Faithfully Fed aims for more than just food (1/9/17)4
Monsanto posts $6M profit in 1Q
ST. LOUIS -- Monsanto Co. on Thursday said higher seed sales helped it return to profitability in the first quarter compared with a loss in the same three-month period last year.
The St. Louis company reported higher sales for corn, soybean, vegetable and cotton seeds. It also posted higher sales of its Roundup weedkiller despite tight competition from a variety of generic competitors.
Monsanto said net income was $6 million, or 2 cents per share, for the quarter ended Nov. 30, compared with a loss of $19 million, or 2 cents a share, in the year-ago period. Revenue increased 8 percent to $1.83 billion.
Analysts surveyed by Thomson Reuters had expected earnings of 1 cent per share on revenue of $1.79 billion.
Monsanto said it cut general and administrative expenses 9 percent after restructuring operations last year, and it increased research and development spending 13 percent.
The company said it expects to earn between $2.69 and $2.79 per share in 2011.
Shares slipped 3 cents to $69.10 in pre-market trading.