Arden Hills, Minn.-Land O’ Lakes Inc. reported a ten-fold increase in third-quarter earnings, to $59.9 million on sales of $2.9 billion, up from the year-ago $5.2 million and $2.1 billion, respectively. Nine-month net earnings were $224 million on sales of $9.4 billion, up from $137.4 million and $6.3 billion. Third-quarter agronomy earnings totaled $142.2 million, versus the year-ago pretax $6.8 million. Nine-month results were pretax $168.4 million, versus the year-ago $18 million. LOL notes that it took over the Agriliance LLC crop protection business in September 2007, thereby significantly impacting these results. Even so, it said agronomy is having a strong year, with sales and earnings ahead of expectations. Crop protection sales through September were reported at $2.2 billion.
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