Monsanto Co. posted a fourth-quarter loss of $410 million, or 69 cents a share, because it took an after-tax charge of $500 million, or 84 cents a share, to set up a reserve for the planned spinoff of its chemical operations and other restructuring. A year earlier, Monsanto earned $80 million, or 13 cents a share.
The St. Louis-based company, which owns pharmaceutical-maker G.D. Searle & Co. of Skokie and has a big stake in DeKalb Genetics Corp., said fourth-quarter revenue grew 4 percent, to $2.2 billion from $2.11 billion a year earlier.
For the year, Monsanto said its earnings plunged 48 percent, to $385 million, or 64 cents a share, from $739 million, or $1.27 a share, in 1995. Without the spinoff charge, Monsanto said it would have earned $885 million, or $1.48 a share, in 1996. Sales were a record $9.26 billion, up 3 percent from $8.96 billion.
