After announcing it plans to eliminate 2,600 jobs in a restructuring effort, Monsanto reports net sales for the full 2015 fiscal year were $15 billion, a 5.4% decrease from the year prior. The company also announced that it has entered into accelerated share repurchase (ASR) agreements with Citibank, N.A. and JPMorgan Chase Bank, N.A. to repurchase an aggregate of $3 billion of the company’s common stock.
Full-year net sales results were driven by the performance of the company’s Seeds and Genomics segment and licensing agreements, which were more than offset by foreign currency headwinds, declining corn acres and declines in glyphosate pricing, according to the company.
Seeds and Genomics segment net sales were $1.3 billion for the quarter. For the fiscal year, net sales for the Seeds and Genomics segment reached $10.2 billion. Agricultural Productivity segment net sales were $1.1 billion for the quarter. Net sales for the Agricultural Productivity segment for the fiscal year reached $4.8 billion.
Monsanto reported a net loss of $495 million in the fourth quarter of fiscal year 2015, compared with a reported net loss of $156 million in the same period last year. Net income attributable to Monsanto for fiscal year 2015 was approximately $2.3 billion compared to net income attributable to Monsanto of $2.7 billion in fiscal year 2014.
More information is available here: http://news.monsanto.com/press-release/corporate/global-portfolio-leading-innovation-and-financial-discipline-enabled-year-so
