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People & Business :: Companies
Monsanto Posts Wider Fourth-Quarter Loss on Acquisition Charge
October 10, 2007 | Michelle Bryner
Monsanto's fourth-quarter net loss widened to $210 million, compared with a net loss of $144 million for the year-ago quarter. The latest quarter includes an in-process R&D charge of $186 million related to the Delta and Pine Land (D&PL) cotton business, which Monsanto acquired in June. Sales increased 13%, to $1.57 billion, in line with Bank of America's (New York) forecast. "This year was a benchmark year for our company," says Hugh Grant, chairman, president, and CEO at Monsanto. "We realized record sales for a fourth consecutive year...
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