Monsanto Posts Fourth Quarter Profit

The maker of Roundup, the world's biggest-selling herbicide, said pro forma net income for the quarter was 12 cents a share, against a loss of $25 million, or 10 cents a share, a year earlier.

Monsanto said net income and earnings per share were adjusted to reflect a capital contribution from its corporate parent, Pharmacia Corp., as well as proceeds from its initial public offering in October.

Adjusted total fourth-quarter revenue rose 7 percent to $1.21 billion, helped by sales of Roundup in the United States and Argentina. Monsanto's agricultural productivity, seeds and genomics business posted a 10 percent sales increase to $781 million, led by Roundup and other herbicides. Sales of the seed and genomics segment rose slightly to $427 million.

The company said in a statement that it expects sales growth in 2001 in line with recorded levels in 2000, based on continued growth in Roundup and seed sales, as well as higher revenues from biotechnology traits.

Net income, compared with 2000 pro forma results that exclude special items, is forecast to grow between 9 percent and 13 percent, the company said, boosted by higher gross profit and continued cost controls.

Reported fourth-quarter results showed a net loss of $52 million, up from a net loss of $92 million in the same period last year. Monsanto also took a restructuring charge of $78 million in the latest fourth quarter.

For more information about Monsanto and its products for the lawn care industry, including Roundup, Roundup Pro, Accord and Campaign, visit the company’s web site at www.monsanto.com.