Monsanto announced that its fourth-quarter net sales reached a record US$2 billion, up 35 percent on-year.

Key drivers for the fourth quarter were higher sales of branded Roundup herbicides and soy seeds and traits. Sales of vegetable seeds also improved primarily from the inclusion of the De Ruiter vegetable seeds business, which was not part of the company's business in the prior fourth quarter.

Monsanto saw record net sales of US$11.4 billion in the company's fiscal year 2008, up 36 percent on-year. Key contributors to the company's growth included increased sales of Roundup and other glyphosate-based herbicides globally, higher worldwide corn seed and traits revenue, increased revenue from the company's US soy and cottonseeds and traits businesses. Increased revenue from the company's vegetable seed portfolio also contributed to results in the year.

Monsanto's net loss in the fourth quarter of fiscal 2008 reached US$172 million, compared with a reported net loss of US$210 million in the same period last year. The expected loss was due to seasonality in certain product sales and in- process research and development (IPR&D) expenses related to the acquisition of the De Ruiter vegetable seeds business.

The company expects gross profit to grow to US$9.5-9.75 billion for 2012, exceeding the previous gross profit estimate of US$8.6-9.1 billion. Monsanto also expects to achieve a compound annual growth rate for gross profit of 18-20 percent through 2012.

Net income for its 2009 fiscal year, which begun on September 1, would rise to US$4.20-4.40 per share, up from US$3.62 in 2008 but below analysts' expectations of about US$4.61 per share, according to Monsanto.