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Latin American Seed Sales Lift Monsanto's First Quarter Profits
10:16 AM MST | January 5, 2012 | Rebecca Coons
Latin American demand for seeds lifted Monsanto's first-quarter earnings above its guidance and analysts' estimates, and the company says it now expects earnings for its 2012 fiscal year to be at the high end of its previously reported forecast. The company posted gross profit of $1.1 billion in its fiscal first quarter ended November 30, 2011, 30% higher than the same year-ago period, on sales 33% higher, to $2.4 billion. Net income increased 14-fold, to $126 million. Earnings of 23 cts/share topped analysts' consensus of 16 cts/share, as reported by Thomson One...
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