Mosaic to Change Fiscal Year

By CnAgri Print

The Mosaic Company, Plymouth, Minn., announced that its Board of Directors has approved a change in the Company's fiscal year end to December 31 from May 31. Mosaic will complete its current fiscal year on May 31, 2013 and will then begin reporting quarterly results on a calendar-year basis with the quarter ending on September 30, 2013. The Company will report results for a transition period of June 1 to Dec. 31, 2013. The Company's first full calendar reporting year will be 2014.

"The change in our fiscal year better aligns our financial reporting cycle with our business activity and budgeting process," said Larry Stranghoener, Chief Financial Officer. "In addition, our financial reporting will be aligned with other companies in our industry, allowing investors and securities analysts to make more direct comparisons between our results and our peers'."

Mosaic plans to provide historical GAAP financial and other business performance data for calendar quarters beginning January 1, 2012 and through June 30, 2013. This information is expected to be furnished to the Securities and Exchange Commission and released to the public in early September 2013.

Mosaic intends to report its financial results on the following schedule:

-- Fiscal second quarter 2013: January 4, 2013

-- Fiscal third quarter 2013: late March 2013

-- Fiscal fourth quarter and full fiscal year 2013: mid-July 2013

-- Calendar third quarter 2013: early November 2013

-- Calendar fourth quarter and the seven month period ending December 31: mid-February 2014

The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry.