This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

AGCO Reports Third Quarter Results

The Company’s four reportable segments distribute a full range of agricultural equipment and related replacement parts. The Company evaluates segment performance primarily based on income from operations. Sales for each segment are based on the location of the third-party customer. The Company’s selling, general and administrative expenses and engineering expenses are charged to each segment based on the region and division where the expenses are incurred. As a result, the components of income from operations for one segment may not be comparable to another segment. Segment results for the three and nine months ended September 30, 2012 and 2011 are as follows:

Three Months Ended   North     South     Europe/Africa/     Asia/    
September 30, America America Middle East Pacific Consolidated
 
2012
Net sales $ 632.2 $ 479.9 $ 1,060.5 $ 122.4 $ 2,295.0
Income from operations 60.0 45.0 81.7 3.8 190.5
 
2011
Net sales $ 417.7 $ 515.7 $ 1,092.4 $ 73.3 $ 2,099.1
Income from operations 15.6 35.4 89.6 6.5 147.1
 
Nine Months Ended North South Europe/Africa/ Asia/
September 30, America America Middle East Pacific Consolidated
 
2012
Net sales $ 1,932.1 $ 1,343.8 $ 3,667.2 $ 315.7 $ 7,258.8
Income from operations 205.9 110.6 387.5 9.8 713.8
 
2011
Net sales $ 1,171.9 $ 1,423.0 $ 3,465.6 $ 194.9 $ 6,255.4
Income from operations 48.3 106.7 344.4 15.9 515.3

A reconciliation from the segment information to the consolidated balances for income from operations is set forth below:

  Three Months Ended     Nine Months Ended
September 30, September 30,
2012     2011 2012     2011
Segment income from operations $ 190.5 $ 147.1 $ 713.8 $ 515.3
Corporate expenses (29.8 ) (22.0 ) (75.5 ) (60.3 )
Stock compensation expense (8.9 ) (6.0 ) (27.1 ) (17.0 )
Restructuring and other infrequent income 0.7
Amortization of intangibles   (12.2 )   (4.8 )   (36.9 )   (14.1 )
Consolidated income from operations $ 139.6   $ 114.3   $ 574.3   $ 424.6  

RECONCILIATION OF NON-GAAP MEASURES

This earnings release discloses adjusted income from operations, net income and net income per share, all of which exclude amounts that differ from the most directly comparable measure calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). A reconciliation of each of these financial measures to the most directly comparable GAAP measure is included below.

9 of 11

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,889.80 -25.27 -0.15%
S&P 500 1,961.91 -2.77 -0.14%
NASDAQ 4,400.0460 +3.8420 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs