![]() | Press Release SEMINIS INC. | |
CONTACT: Enrique Osorio 805-647-1572 enrique.osorio@seminis.com | ||
Patrick Turner 805-647-1572 patrick.turner@seminis.com |
Seminis Reports Preliminary Third Quarter Results
• Net sales increase 6.1% year over year to $113.1 million
OXNARD, Calif. — July 28, 2003 — Seminis, Inc., the world’s largest developer, producer and marketer of vegetable and fruit seeds, today reported preliminary unaudited results for its quarter ended June 27, 2003. The early announcement precedes filings by its parent company, Savia S.A. de C.V., which is required to release consolidated results, including those of the Company, later today.
NET SALES AND GROSS PROFIT
OPERATING EXPENSES
OPERATING INCOME
NET INCOME (LOSS)
BANK DEBT
Seminis, Inc. will provide additional information on its quarterly results at a later date.
ABOUT SEMINIS
All statements in this press release other than statements of historical facts are “forward looking” statements, including without limitation statements regarding the Company’s financial position, business strategy, plans, and objectives of management and industry conditions. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. The following factors, among others, may affect the Company’s actual results and could cause such results to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company: competitive factors, agribusiness risks, governmental and economic risks associated with foreign operations, commercial success of new products, proprietary protection of and advances in technology, possible need for additional financing as well as the ability of the Company to successfully integrate recent acquisitions and its management information systems and controls. Further information on the factors that could affect the Company’s financial results is contained in the Company’s S-1 registration statement dated June 29, 1999, and filed with the U.S. Securities and Exchange Commission.