8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 28, 2003

SEMINIS, INC.

(Exact name of Registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation)	000-26519 (Commission File Number)	36-0769130 (IRS Employer Identification No.)
2700 Camino del Sol, Oxnard, California (Address of principal executive offices)		93030-7967 (Zip Code)

Registrant’s telephone number, including area code: (805) 642-1572

Not Applicable

(Former name or former address, if changed since last report.)

TABLE OF CONTENTS

	Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
	Item 12. Results of operations and financial Condition
SIGNATURE
EX-99.1

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits

(a)	Not applicable.
(b)	Not applicable.
(c)	Exhibit 99.1 Press release dated July 28, 2003, issued by Seminis, Inc., announcing the preliminary results of third quarter of fiscal year 2003.

Item 12. Results of Operations and Financial Condition

     On July 28, 2003, the Company issued a press release reporting its preliminary unaudited results for the quarter ended June 27, 2003. A copy of the press release is attached hereto as Exhibit 99.1.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SEMINIS, INC.
Date: July 31, 2003	By: /s/ Gaspar Alvarez Martinez Name: Gaspar Alvarez Martinez Title: Vice President and Worldwide Corporate Comptroller

EX-99.1 3 v91923exv99w1.htm EX-99.1

	Press Release SEMINIS INC.
	CONTACT: Enrique Osorio 805-647-1572 enrique.osorio@seminis.com
	Patrick Turner 805-647-1572 patrick.turner@seminis.com

Seminis Reports Preliminary Third Quarter Results

•     Net sales increase 6.1% year over year to $113.1 million

•     Operating income up by 29.2% or $1.8 million

•     Reports Net Loss of $3.3 million

OXNARD, Calif. — July 28, 2003 — Seminis, Inc., the world’s largest developer, producer and marketer of vegetable and fruit seeds, today reported preliminary unaudited results for its quarter ended June 27, 2003. The early announcement precedes filings by its parent company, Savia S.A. de C.V., which is required to release consolidated results, including those of the Company, later today.

NET SALES AND GROSS PROFIT

Net sales for the quarter were $113.1 million compared to $106.6 million for the same period last year. Gross profit increased to $71.0 million or 62.8% of sales compared to $65.0 million or 61.0% for the same period last year.

OPERATING EXPENSES

Operating expenses for the quarter increased by $4.1 million, or 6.9%, to $63.3 million, compared to $59.2 million in the same period last year.

OPERATING INCOME

Operating income in the quarter was $8.1 million compared to $6.3 million for the same period last year. Operating income increased by $1.8 million, or 29.2% compared to the same period last year.

NET INCOME (LOSS)

In the quarter, the Company posted a net loss of $3.3 million compared to a net income of $4.3 million during the same period last year.

BANK DEBT

The total outstanding bank debt as of June 27, 2003 was $274.2 million compared to $297.7 million as of June 28, 2002, a reduction of $23.5 million or 7.9%.

Seminis, Inc. will provide additional information on its quarterly results at a later date.

ABOUT SEMINIS

Seminis Inc. is the largest developer, producer and marketer of vegetable and fruit seeds in the world. Seminis uses seeds as the delivery vehicle for innovative agricultural technology. Its products are designed to reduce the need for agricultural chemicals, increase crop yield, reduce spoilage, offer longer shelf life, create better tasting foods and foods with better nutritional content. Seminis has established a worldwide presence and global distribution network that spans 150 countries and territories.

All statements in this press release other than statements of historical facts are “forward looking” statements, including without limitation statements regarding the Company’s financial position, business strategy, plans, and objectives of management and industry conditions. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. The following factors, among others, may affect the Company’s actual results and could cause such results to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company: competitive factors, agribusiness risks, governmental and economic risks associated with foreign operations, commercial success of new products, proprietary protection of and advances in technology, possible need for additional financing as well as the ability of the Company to successfully integrate recent acquisitions and its management information systems and controls. Further information on the factors that could affect the Company’s financial results is contained in the Company’s S-1 registration statement dated June 29, 1999, and filed with the U.S. Securities and Exchange Commission.

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EX-99.1

Seminis, Inc. Exhibit 99.1