UAP Holding Corp., a supplier of agricultural products, on Monday posted a larger third-quarter loss on a drop in sales during its first period reporting as a public company.

The company, a former subsidiary of ConAgra Foods Inc., widened its loss to $30.9 million, or 65 cents per share, from a loss of $18.5 million in the year-ago period. Results from ongoing business would have been a loss of 55 cents per share, UAP said.

Sales for the period were $267.2 million, a decrease of 9 percent from $293.8 million a year earlier. UAP attributed the decline to lower demand for crop-protection chemicals during a seasonally weak quarter, with sales accounting for about 12 percent of year-to-date levels.

Looking ahead, the company said it expects adjusted 2005 earnings of $136 million to $141 million, or 97 cents to $1.04 per share.

Source: Yahoo News