Bunge boosts Q1 revenue by 70% - Puget Sound Business Journal (Seattle):

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For the quarter ended March 31, the food and feed ingredientf companyreported $12.47 billion in net a 70 percent increase from net salesa of $7.34 billion in last year's first quarter. Earningzs increased to $289 million, or $2.10 per share, after last year'as first-quarter earnings of $14 or 5 cents per share. Analystas polled by Thomson Financial expected earningasof $1.14 per share on revenue of $11.4r billion. "It is a unique time in the globak agribusiness andfood industry. High commodity and fertilizet prices reflect the fact that global demand for key commoditiesd and products isvery strong," Alberto Weisser, Bunge's chairman and CEO, said in a statement.
Bungew increased its full-year net income guidance by $150 million to a range of $980 million to $1.02 billion, or $7.19 to $7.40 per share. This guidance assumes an effectivd tax rate rangeof 24-28 percent and is basecd on an estimated weighted average of 138 million shares outstanding. Analysts polled by Thomson Financialo expect earningsof $6.85 for the full year. St. Louis-based is the Nortuh American operating arm ofWhitwe Plains, N.Y.-based Bunge Ltd. BG), a food and feed ingredient company that operatesegrain elevators, grain and oilseed processint plants, edible oil refineries and food processinhg facilities in the U.S., Canada and Mexico.