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D&P Weak sales performance leads Q1 results in loss
07 Jan '06
2 min read
Leading commercial breeder, producer and marketer of cotton planting seed, Delta and Pine Land Company announced results for its first quarter ended November 30, 2005.
Due to the seasonal nature of the seed business, the Company typically incurs losses in its first and fourth fiscal quarters.
Revenues were $9.8 million in the 2006 first quarter, compared to $17.5 million recorded in the year-ago quarter.
The revenue decrease was attributable to international operations, particularly in South America and Australia.
Sales volumes in South America were lower, primarily due to a reduction in the cotton acreage planted in Brazil.
Sales volumes in Australia were impacted by increased competition.
Results were also impacted in the first quarter of 2006 by increased spending on research and development activities related to new technologies from Monsanto, Syngenta and DuPont, higher professional services fees related to litigation (other than the Pharmacia/Monsanto lawsuit), and stock-based compensation costs.
Click to view more details
Delta and Pine Land Company is a leading commercial breeder, producer and marketer of cotton planting seed.
Headquartered in Scott, Mississippi, with multiple offices in eight states and facilities in several foreign countries, D&PL also breeds, produces and markets soybean planting seed in the US.
Due to the seasonal nature of the seed business, the Company typically incurs losses in its first and fourth fiscal quarters.
Revenues were $9.8 million in the 2006 first quarter, compared to $17.5 million recorded in the year-ago quarter.
The revenue decrease was attributable to international operations, particularly in South America and Australia.
Sales volumes in South America were lower, primarily due to a reduction in the cotton acreage planted in Brazil.
Sales volumes in Australia were impacted by increased competition.
Results were also impacted in the first quarter of 2006 by increased spending on research and development activities related to new technologies from Monsanto, Syngenta and DuPont, higher professional services fees related to litigation (other than the Pharmacia/Monsanto lawsuit), and stock-based compensation costs.
Click to view more details
Delta and Pine Land Company is a leading commercial breeder, producer and marketer of cotton planting seed.
Headquartered in Scott, Mississippi, with multiple offices in eight states and facilities in several foreign countries, D&PL also breeds, produces and markets soybean planting seed in the US.
Delta and Pine Land Company
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