US biotechnology giant Monsanto said its fourth-quarter net income was US$61m, compared to a loss of $104m a year earlier.

The St. Louis-based company reported net sales of $1.2bn for the quarter, an increase of 1% from a year earlier.

For the quarter, diluted earnings per share were 23 cents, compared to a loss of 40 cents per share in the same period of the previous year. Wall Street had expected the company to earn 29 cents a share for the quarter, reported Reuters.