Seed Today - Q2 2008 - (Page 40)

Major multinational biotech companies report favorable earnings Dow AgroSciences Note: Financial information for Dow AgroScience is included as a part of Dow’s overall corporate earnings report. Sales in Agricultural Sciences rose 27 percent, with increases of 16 percent in volume and 11 percent in price, setting quarterly records for both sales and earnings before interest and income taxes (EBIT). Dow’s Agricultural Sciences segment posted record sales of $1.3 billion, 27 percent higher than the same period last year. Price was up 11 percent, with increases in all geographic areas and particular strength in Europe and Latin America. Volume was up 16 percent compared with the same period last year, with double-digit increases in Europe, Asia Pacific and Latin America. The recent acquisitions of Agromen, MTI and Duo Maize continue to perform well, and the integration of newly acquired Triumph Seeds is underway. First quarter EBIT for Agricultural Sciences was $331 million, compared with $282 million in the year ago period. of $3.8 billion for its second quarter of fiscal year 2008, which were 45 percent higher than sales in the same period in fiscal year 2007. Key drivers for the quarter were increased revenues from U.S. corn seed and traits business as well as increased revenues from its Brazilian corn seed business. Results in the quarter also reflected increased revenues from Roundup agricultural herbicides globally. Monsanto reported net income of $1.1 billion in the second quarter of fiscal year 2008, compared with reported net income of $543 million in the same period last year. For the first six months of fiscal year 2008, Monsanto reported net income of $1.4 billion, which was significantly higher than net income of $633 million the company realized in the first six months of fiscal year 2007. to the Northern hemisphere season and continued momentum in Latin America. NAFTA performance was driven by demand for wheat and corn fungicides and by strong growth in nonselective herbicides and professional products. In Asia Pacific, emerging markets continued to expand rapidly. Seeds sales were 13 percent higher (CER). In the United States, growth in soybeans offset the impact of lower corn acreage, while corn sales expanded rapidly in Europe, Latin America and Asia. Pioneer - A DuPont Company Note: Financial information for Pioneer is included as a part of DuPont’s overall corporate earnings report. Sales in Agriculture and Nutrition increased 18 percent and earnings grew 21 percent, reflecting strong demand for the company’s production agriculture products. “We’re off to a strong start for the year,” says DuPont Chairman and CEO Charles O. Holliday, Jr. “Our investments in agriculture and emerging markets enabled us to capitalize on robust growth in those areas.” Agricultural product sales increased $433 million, or 18 percent, to $2.9 billion, reflecting strong global demand favoring seed technology and crop protection products. Syngenta Syngenta’s sales in the first quarter of 2008 increased by 20 percent at constant exchange rates (CER). Reported sales benefited from the weakness of the dollar and were 28 percent higher at $3.8 billion. Volume growth was supplemented by a three percent increase in pricing. Crop Protection sales were 22 percent higher (CER) with a strong start Monsanto Company Monsanto reported record net sales 40 Second Quarter 2008

Table of Contents Feed for the Digital Edition of Seed Today - Q2 2008

Seed Today - Q2 2008 Contents Editor’s Notes Cover Feature IKR BÁBOLNAMAG AOSA/SCST Gary Biel Bill Latham According to ASTA AOSCA Origin AgriTech Ltd. Pipeline Auditec Power Seeds, Inc RSI Systems LLC Mill & Elevator Supply Co. Agronomix Software, Inc Green Age® Products and Services USDA Crop Projections Buyers’ Guide Ad Index

Seed Today - Q2 2008

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