Southeastern cotton growers were surveyed in the winter of 1996-97 to obtain information on the impacts of Bt cotton in the first year. Adopters of Bt cotton in 1996 experienced a 11.4% yield improvement on their Bt acres compared to their conventional cotton acres. Insecticide applications per season were 72% lower on their Bt cotton relative to their conventional cotton acres. There was also a significant reduction in total insecticides applied, with a more than proportional reduction in synthetic pyrethroids on their Bt acres. Additional profit from Bt cotton adoption averaged $142 per hectare ($51 per acre), or a 155% return on the seed investment.