Monsanto's net income fell 19 in its fiscal second quarter and missed analysts estimates, and the company warned investors that previously announced goal of doubling 2007 gross profit by 2012 is unlikely given competitive pressure in both its seeds and traits and agricultural productivity segments. The company reported net income of $887 million, compared to $1.1 billion in the same year ago quarter, on sales down 4, to $2.9 billion. Earnings per share of $1.60 fell short of analysts' expectations of $1.73/share, according to Thomson Reuters (New York). Seeds and genomics sales increased 6, to $3.2 billion, on higher corn sales in Argentina, Brazil, and the U.S. and soybean acreage increases in Brazil. Monsanto's agricultural productivity seg- ment posted sales down 35, to $642 million, due to an inven- tory buildup of lower-priced generic versions of the company's glyphosate-based Roundup herbicides.
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