D4-Lancaster Farming, Saturday, December 20, 2003 CNH Reports Improved Third Quarter 1 ARE FOREST, 111. CNH Global N.V. has reported a third quarter net loss of $36 million, substantially better than the net loss of $66 million for the same period last year. Excluding restructuring charges in both periods, CNH’s third quarter bottom line was a net loss of $l5 million, com pared to a third quarter 2002 loss of $5B million. Net sales of equipment were up 12% in the quarter, driven by strong sales of the company’s agricultural equipment across all major mar kets. For the first nine months of 2003, CNH reported a net loss of $46 million, or $.35 per share, compared to a net loss of $4Ol million lor the same period last vear. Fxcludmg restructuring charges and the cumulative effect of a change m accounting principle in 2002 related to goodwill impairment. CNH’s profit of $1 million m the first nine months of 2003 compaics favorably to a loss of $59 million for the same period in 2002. Net sales of equipment in the Pioneer Introduces 40 New Corn Hybrids Offering The Roundup Ready™ Trait DES MOINES, lowa Pio neer Hi-Bred International, Inc., has announced the introduction of 40 new Pioneer brand corn hybrids containing the Roundup Readygene. Phis technology allows postemergence applica tion ot Roundup "-branded her bicides without crop injury or stress. The hybrids range from 77 to 1 16 comparative relative matu- Accelerated Genetics November 2003 rity. Most are conversions of , tried-and-true yield-leading hy- Dairy SIFC DirCCtOriCS Available brids with which growers are fa miliar. Several also offer in- BARABOO, Wis. Acceler- dates....this directory is sure to plant protection from European ate( j Genetics November 2003 be useful in every dairyman’s corn borer and other insect f) a j r y sire Directories are now breeding program,” says Janet pests. Supplies of some of the available as of Nov. 13. Dairy Keller, vice president of adver newly released products, how- producers can contact their local tising, communication and ever, will be limited, and Accelerated Genetics represent- public relations, growers should contact their a tj ve or call 1-800-451-9275 or The Dairy Sire Directory is a local Pioneer representative for em ail: info@accelgen.com to re- full-color 72-page directory that information on products avail- q Ue st a new, complimentary features the most recent produc es in their areas and suited to p> a iry Sire Directory. tion and type data on Acceler their individual farms. “Accelerated Genetics offers ated Genetics’ entire lineup of “Finding a hybrid with the you the widest variety of choices dairy sires: Ayrshire, Brown genetics and yield potential that whether you are a commercial Swiss, Guernsey, Holstein, fits the agronomic needs of a dairymen selecting for economi- Jersey and Milking Shorthorn, particular farm or field should cal management traits, a pure- Each active AI sire has his com be a grower s first considera- hied breeder sorting for the elite plete production and type proof tion. says Kyle Whitaker, Pio- TPI genetics or a heifer raiser information as well as picture(s) neer corn technology launch searching for calving case candi- of their daughter(s) manager. “Pioneer’s local seed representatives know what situ ations growers in their area face. Ehey can help identify the right hybrid and advise whether the Roundup Ready system is the right choice, based on weed challenges, desired application timing and other considera tions” Pioneer now offers a total of nearly 50 hybrids and more than 60 soybean varieties with the Roundup Ready gene and will continue to expand its product lineup with products to meet grower demand. “Growers obviously recognize value from the Roundup Ready \ ❖ Business News ❖ peiiod were $7,386 billion, com pared to $6,920 billion for the first nine months of 2002. “Our new agricultural prod ucts are driving share gains in our key markets, directly bene fiting the bottom line,” Paolo Monferino, CNH president and chief executive officer said. “Al though the third quarter is typi cally the weakest quarter of the year, we achieved an industrial operating margin of $72 million on a GAAP basis. Looking ahead, our construc tion equipment business has turned the corner and should be at breakeven in the fourth quar ter. Overall, we confirm our forecast to be in the black, on a GAAP basis, before restructur ing charges, in 2003.” Net sales of agricultural equipment increased to $1,684 billion for the quarter, compared to $1,429 billion in the third quarter of 2002. Net of favorable currency, net sales of agricul tural equipment increased by 10 r/ r, reflecting the company’s strong sales in the Americas and i .. .. » cqvo Paul weed-management strategies herbicide program jays Pan can be | Ked t 0 meet spe . Carter, agronomist and global , . ~ ~ agronomy sciences manager at Zl^ic wee . challenges. Pioneer. “However, we all need To assist growers, Pioneer has to realize there is no one-size- developed a full spectrum ol tits-all herbicide program. Ro- management recommendations tating herbicide modes of action, or growers using Roundup using two-pass programs and branded herbicides in crop rota tank-mixing products to t* oo programs involving corn broaden efficacy and deliver re- soybeans with the Roundup sidual control are all sound Ready gene. Western Europe. Third quarter 2003 industry unit sales of agricultural equip ment in North America im proved substantially compared to the third quarter of 2002. In North America, industry sales improved across all tractor seg ments with the greatest gains in the under 40 horsepower seg ment. North American combine sales also increased signifi cantly. In Europe, industry sales of tractors were essentially flat, while industry sales of combines declined significantly. Industry sales of tractors were down slightly in Latin America while combine sales rose significantly. CNH believes that industry sales of agricultural equipment in the fourth quarter of 2003 should be flat to up slightly in North America. In Western Europe industry sales of tractois are expected to decline, while combine sales in Latin America are expected to increase signifi cantly through the balance of the year. PHONE 717 626 1164 or 717-394 3047 FAX 717 733-6058 Mon . 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