AGRIUM INC. this week reported net earnings of $26-million for the third quarter of 2009, compared with the net earnings of $367-million in the third quarter of 2008. The 2009 third quarter results included gains of $5-million on derivative financial instruments and a $25-million expense in stock-based compensation. It also included an inventory write-down of $9-million primarily associated with the company's wholesale purchase for resale business. Excluding these items, our net earnings would have been $46-million for the third quarter of 2009. Sales in the most recent quarter were $1.89 billion, down from $3.18 billion during the prior year period.
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