Cites Improvements In Agricultural Businesses
MAUMEE, Ohio, June 20 /PRNewswire-FirstCall/ -- The Andersons, Inc.
(Nasdaq: ANDE), today announced revised full-year earnings per share
estimates which are expected to exceed previous projections. In early May,
the company indicated it anticipated full-year earnings in the range of
$2.35 to $2.60 per diluted share. The company is now forecasting its 2007
earnings per diluted share to be between $2.80 and $3.05.
According to President and Chief Executive Officer Mike Anderson, "Our
earnings outlook for 2007 has increased primarily because of strong second
quarter performance in our agricultural businesses. When we last provided
guidance, planting progress within our region was behind historical norms.
Planting has now been successfully completed. This has had a positive
impact on the earnings outlook for our Grain & Ethanol and Plant Nutrient
Groups. Specifically, our Plant Nutrient Group has benefited from the
increased corn acreage and associated higher volume and margins.
Additionally, our new ethanol plant in Clymers, IN has begun producing
ethanol, and both ethanol plants are realizing better margins and
throughput than our earlier projections envisioned." Mr. Anderson added "Of
course, our full-year results will be influenced by conditions throughout
the remainder of the 2007 growing season. We will continue to evaluate our
earnings projections as we progress through the year."
The Andersons, Inc. is a diversified company with interests in the
grain, ethanol and plant nutrient sectors of U.S. agriculture, as well as
in rail leasing, industrial products formulation, turf products production,
and general merchandise retailing. Founded in Maumee, Ohio, in 1947, the
company now has operations in seven U.S. states plus rail equipment leasing
interests in Canada and Mexico.
This release contains forward-looking statements. These statements
involve risks and uncertainties that could cause actual results to differ
materially. Without limitation, these risks include economic, weather and
regulatory conditions, competition, and the risk factors set forth from
time to time in the Company's filings with the Securities and Exchange
Commission. Although the Company believes that the assumptions upon which
the financial information and its forward-looking statements are based are
reasonable, it can give no assurance that these assumptions will prove to
be correct.
The Andersons, Inc. is located on the Internet at
http://www.andersonsinc.com.
SOURCE The Andersons, Inc.
 back to top
Related links:
http://www.andersonsinc.com
CONTACT:
Gary Smith of The Andersons, Inc.,
+1-419-891-6417
|
