Newspaper article St Louis Post-Dispatch (MO)

Monsanto's Quarterly Loss Narrows as Expenses Drop

Newspaper article St Louis Post-Dispatch (MO)

Monsanto's Quarterly Loss Narrows as Expenses Drop

Article excerpt

Monsanto Co., which agreed last month to be bought by Germany's Bayer AG for $66 billion, reported a smaller quarterly loss on Wednesday, helped by higher corn seed volumes and lower expenses.

The net loss attributable to Monsanto narrowed to $191 million, or 44 cents per share, in the fourth quarter ended Aug. 31 from $495 million, or $1.06 per share, a year earlier.

Net sales of the company, known for its genetically engineered corn, soybean and the Roundup herbicide, rose 8.8 percent to $2.56 billion in the quarter. Net sales for the full fiscal year totaled $13.5 billion.

Selling, general and administrative costs increased in the quarter related to $280 million in PCB litigation settlement costs the company said, following an agreement in September to settle all its legacy PCB personal injury claims. …

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