Monsanto earnings decline in fourth quarter; sales gain

ST. LOUIS -- Monsanto Co.'s losses widened in the fourth quarter as restructuring expenses offset modest sales gains, the St. Louis-based agricultural and biotech company said Tuesday.

For the period ending Dec. 31, Monsanto lost $104 million, or 40 cents per share, compared with a loss of $52 million, or 20 cents per share, in the fourth quarter of 2000.

Excluding one-time costs associated largely with restructuring to eliminate duplication of capacity to formulate and package herbicides, Monsanto earned $21 million, up from $3 million in the fourth quarter of 2000.

The earnings matched expectations of analysts surveyed by Thomson Financial/First Call.

Sales increased 4 percent in the fourth quarter to $1.21 billion, up from $1.16 billion a year ago. The company said a decrease in the sales of Roundup, the world's best-selling herbicide, were more than offset by increases in trait revenues for Monsanto's soybean and corn technologies.