The Andersons Inc. reports record earnings
February 5, 2008
BY Bryan Sims
Web exclusive posted Feb. 6, 2008, at 4:20 p.m. CST
The Andersons Inc. announced today that both its full-year and fourth-quarter 2007 results established new records for the company. The Maumee, Ohio-based diversified agri-business company reported a net income of $68.8 million, or $3.75 per diluted share, on $2.4 billion of revenues. The fourth quarter net income was $23.5 million, or $1.28 per diluted share, and total revenues were $785 million. In the same three-month period of 2006, the company posted a net income of $13.8 million on revenues of $463 million.
The company's Grain & Ethanol Group earned $65.9 million in operating income in 2007, more than double its previous income record of $28 million achieved in 2006. Total revenues were $1.5 billion for the year. This included $407 million of grain and ethanol sales made by the group in accordance with grain origination and marketing arrangements between the company and its ethanol joint ventures, for which it receives a fee. Total revenues in the Grain & Ethanol Group have increased for both the quarter and year due to a considerable increase in the volume and price of grain sold, and an increase in the gallons of ethanol sold.
For more information, visit http://phx.corporate-ir.net/phoenix.zhtml?c=96043&p=irol-newsArticle&ID=1105207&highlight=
The Andersons Inc. announced today that both its full-year and fourth-quarter 2007 results established new records for the company. The Maumee, Ohio-based diversified agri-business company reported a net income of $68.8 million, or $3.75 per diluted share, on $2.4 billion of revenues. The fourth quarter net income was $23.5 million, or $1.28 per diluted share, and total revenues were $785 million. In the same three-month period of 2006, the company posted a net income of $13.8 million on revenues of $463 million.
The company's Grain & Ethanol Group earned $65.9 million in operating income in 2007, more than double its previous income record of $28 million achieved in 2006. Total revenues were $1.5 billion for the year. This included $407 million of grain and ethanol sales made by the group in accordance with grain origination and marketing arrangements between the company and its ethanol joint ventures, for which it receives a fee. Total revenues in the Grain & Ethanol Group have increased for both the quarter and year due to a considerable increase in the volume and price of grain sold, and an increase in the gallons of ethanol sold.
For more information, visit http://phx.corporate-ir.net/phoenix.zhtml?c=96043&p=irol-newsArticle&ID=1105207&highlight=
Advertisement
Advertisement
Upcoming Events
