Net sales for the first half of 2012 totaled $7.5bn, up 8% compared to $6.9bn for the same period in 2011. Net earnings for the period were $131.9m, compared to $168.1m in 2011.
The company said that sales of its feed business increased by 11%, crop business by 17%, egg business by 17%; however, sales in the dairy foods segment declined by 7%mainly due to challenging market situations.
Land O'Lakes president and chief executive officer Chris Policinski said the company posted solid sales, with particularly strong results in core branded product lines .
"We are continuing to successfully introduce innovative new products and build our brands with new revenue generating strategies," Policinski said.
Land O'Lakes, a Minnesota-based food and agriculture company, is a supplier of dairy-based consumer, foodservice and food ingredient products. It operates in more than 60 countries globally.
