Cites Improvements in Agriculture & Rail Businesses
Company Also Announces Cash Dividend
MAUMEE, Ohio, Dec. 16 /PRNewswire-FirstCall/ -- The Andersons, Inc.
(Nasdaq: ANDE), today announced that its full-year earnings per share are
expected to exceed previous projections. In May, the company indicated that it
anticipated 2005 earnings in the range of $2.20 to $2.50 per diluted share. It
has reaffirmed that guidance on several subsequent occasions. Last year the
company earned $2.55 per diluted share.
According to President and Chief Executive Officer Mike Anderson, "Our
earnings outlook for 2005 has increased primarily because of strong fourth
quarter performances in our grain, plant nutrient and rail businesses. We now
believe that our current year earnings will exceed our previous projections.
After the first of the year, we'll be in a better position to estimate our
actual results, but at this time it appears that our 2005 earnings will exceed
the upper end of our previous guidance."
The company also announced that its board of directors has authorized a
cash dividend of eight and one-half cents per common share to be paid on
January 23, 2006 to holders of record as of January 3, 2006. This is The
Andersons' 37th consecutive quarterly cash dividend since its listing on
Nasdaq on February 20, 1996. There are approximately 7.5 million common
shares outstanding.
The Andersons, Inc. is a diversified company with interests in the grain
and plant nutrient sectors of U.S. agriculture, as well as in railcar
marketing, industrial products formulation, turf products production, and
general merchandise retailing. Founded in Maumee, Ohio, in 1947, the company
presently 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 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.
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Related links:
http://www.andersonsinc.com
CONTACT:
Gary Smith of The Andersons, Inc.,
+1-419-891-6417
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