Monsanto Reports Decline in Income, Revises Profit Goal

Monsanto’s net income fell 19% in its fiscal second quarter ended February 28, missing analysts estimates, and the company warned investors that its ambitious goal of doubling 2007 gross profit by 2012 now appears unlikely. Monsanto cites competitive pressure in its seeds and traits, and agricultural productivity segments as reasons for income decline and profit goal revision. The company also backed away from its policy of premium pricing, saying it will narrow the price gap for some seeds, bringing its prices more into line with those of its competitors...

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