Summary Box: Monsanto 1Q profit surges

AP News
Posted: Jan 05, 2012 3:50 PM
Summary Box: Monsanto 1Q profit surges

SURGING SEEDS: Monsanto Co. said Thursday its fiscal first-quarter earnings soared on strength of its seed business. The company also brightened its outlook for the full fiscal year. Monsanto said its net income rose to $126 million, or 23 cents per share, for the three months ended Nov. 30. Revenue jumped 33 percent to $2.44 billion.

LATIN FOOD: Growth was driven by demand for corn throughout Latin America. Sales in Monsanto's seeds and genomics segment increased 32 percent to $1.5 billion.

FUTURE FURROWS: For all of fiscal 2012, the St. Louis company expects earnings per share of between $3.39 and $3.44. Analysts expect earnings of $3.47 per share.