April 6, 2007

Monsanto reports record sales for fiscal Q2 2007

US seed giant Monsanto has reported record net sales of US$2.6 billion for the second quarter of fiscal year 2007, up 19 percent on-year, thanks to increased corn seed and traits revenues in the US, as well as higher sales of Roundup and other glyphosate-based herbicides in Brazil, Argentina and the Europe and Africa region. 

But with increased domestic corn planting seen at the expense of soybeans, increased sales in the current quarter is partially offset by a drop in soybean seed and traits revenues in the US.

Year-to-date sales for the first half of fiscal year 2007 registered US$4.2 billion, up 15 percent from the same period last year.

Net income for fiscal Q2 2007 and fiscal H1 2007 was up 23 percent and 27 percent on-year respectively.

For the first half of fiscal year 2007, net cash provided by operating activities was US$520 million, compared with US$331 million in the same period last year.

Monsanto's Seeds and Genomics segment reported a 22 percent on-year rise in sales to US$1.8 billion for fiscal Q2 2007.

Second fiscal quarter growth was also due to strong demand for the company's higher-margin triple-trait corn technology.