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DEKALB GENETICS SAYS HIGHER THAN EXPECTED SEED RETURNS WILL REDUCE FOURTH QUARTER RESULTS

 DEKALB, Ill., Aug. 12 /PRNewswire/ -- DEKALB Genetics Corporation (NASDAQ-NMS: SEEDB) said today that the amount of unused seed products returned to the company has exceeded the company's projections and will negatively influence fourth quarter results. Because of heavy rainfall that has saturated fields in the Midwest, many farmers were unable to plant. Industry practice allows farmers to return unused seed to the company.
 "Although we made a provision for higher returns of our corn hybrids in our nine-month financial statements, the pace during the fourth quarter has been greater than we had anticipated," said Bruce P. Bickner, chairman and chief executive officer. "As a result, we are now revising fourth quarter estimates downward. We had not expected the current quarter to have a significant impact on full-year results, but it is now clear that we will report an operating loss for the three months ending August 31."
 In the fourth quarter of fiscal 1992, DEKALB earned $300,000, or 6 cents per share. Because of the seasonal nature of the seed business, the fourth quarter is typically a period in which the company makes adjustments to the prior nine months' estimates for seed returns and expenses.
 In its most recent report, the U.S. Department of Agriculture estimated 1993 corn plantings at 73.7 million acres, down more than 7 percent from the previous year. "Based on this updated information, our corn market share will be down slightly, less than one-half of a percentage point," added Bickner.
 Based in DeKalb, DEKALB Genetics Corporation is engaged in the research, production and marketing of agricultural seed, hybrid swine and egg-laying breeding stock. DEKALB Genetics Corporation Class B Common Stock is traded on the NASDAQ National Market System, under the symbol SEEDB.
 -0- 8/12/93
 /CONTACT: Thomas R. Rauman, chief financial officer, 815-758-9223, of DEKALB Genetics/
 (SEEDB)


CO: DEKALB Genetics Corporation ST: Illinois IN: AGR SU: ERP

DB -- MN004 -- 1980 08/12/93 07:59 EDT
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Publication:PR Newswire
Date:Aug 12, 1993
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