Regina-Viterra Inc. reports that its Agri-products unit, which supplies ag inputs to customers in Western Canada, posted C$1 billion in sales for the third quarter ending July 31, 2008, up from the prior year’s $588.3 million. Gross profits and net revenues from the unit were $255.4 million, up from $142.9 million. However, sales for the year-ago quarter excluded pre-acquisition sales attributable to Agricore United for May 2007, the largest seed and fertilizer sales month of the quarter. With the AU deal, Viterra expanded its retail facilities to 276 from 100 and acquired an additional 57 percent ownership in Westco; it now owns all of the fertilizer wholesaler and manufacturer. With its consolidation now virtually complete, Viterra says it operates 251 retail facilities. Third-quarter fertilizer sales were $521.6 million, up from the year-ago $224.2 million. Nine-month Agri-product sales were $1.38 billion, up from the year-ago $761.8 million. Gross profit and net revenues were $347.8 million, up from $177.2 million. Nine-month fertilizer sales were $783.9 million, up from the year-ago $348.3 million. Company-wide, Viterra reported third-quarter net earnings of $166.7 ($.71 per share) on sales of $2.2 billion, up from the year-ago $98.5 million ($.58 per share) on sales of $1.4 billion. Nine-month net income was $241.5 million ($1.13 per share) on sales of $5.1 billion, versus the year-ago $115.6 million ($1.05 per share) and $2.25 billion, respectively.
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