Monsanto 4th-Qtr Loss Widens As Seed Sales Decline
WASHINGTON (AP) — Monsanto says its financial loss widened in the agribusiness giant’s fiscal fourth quarter as sales of biotech seeds dropped.
The St. Louis company recorded a loss of $249 million, or 47 cents per share, for the quarter ended Aug. 31. That compares with a loss of $264 million, or 42 cents per share, in the 2012 period. Revenue climbed 5 percent to $2.2 billion.
Analysts expected a loss of 43 cents per share, on sales of $2.26 billion.
Monsanto’s fiscal 2014 guidance all came in below Wall Street expectations. Shares fell in premarket trading.
Separately, Monsanto said it plans to purchase farming software and data firm The Climate Corporation for $930 million in cash. The company’s technology uses weather forecasting and data analysis to help farmers with planting and harvests.
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