- College algebra to be removed from Southeast required curriculum (10/10/17)1
- State declares test results for schools invalid (10/4/17)2
- Cape Chinese restaurant purchases old Ponderosa property in Perryville (10/10/17)
- Child-custody advocate: State law needs fix to provide parents with more equal custody (10/12/17)
- One of Cape's oldest mom-and-pop restaurants opens in new location (10/10/17)
- Cancer will 'change your life, but it doesn't have to rule it' (10/8/17)
- Ships to stay docked in Cape a week longer (10/10/17)
- Past Rowdy the Redhawk mascot's identity revealed (10/15/17)
- Bills addressing equal child custody to be filed, legislators say (10/13/17)
- Scott City council passes measures to block treatment plant project (10/10/17)1
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.