Bayer CropScience Q2 2010 revenues rise on

Date:08-04-2010

Bayer’s second quarter of fiscal year 2010 revenues spiked 14.6% to approximately $12 billion, although its research and development expenses rose nearly as fast, increasing 12.7% to around $975 million over the year-ago period, according to a company financial report. Bayer noted increased demand in its primary customer industries.

The three major segments contributing to growth were Healthcare at approximately 47%; Material Science at around 29%; and Crop Science accounting for approximately 21% of total second quarter revenue. Material Science revenues increased the most, at 46.9% over the same period last year.

The Healthcare segment recorded increased revenues to $5.6 billion, 6.4% more than the $5.3 billion in the year-ago quarter, including a 4.3% growth in revenues from Pharmaceuticals.

Crop Science revenues increased 1.7% to approximately $2.5 billion during the quarter. Difficult weather conditions and a tough economy resulted in Crop Protection revenues sliding 1.3% to approximately $2 billion, partially balanced by a strong Environmental Science/BioScience segment increase of 16.7% to $375 million.