Maumee, Ohio-The Andersons Inc. reported record first-half net income and per share earnings for the period ending June 30, 2006, though second-quarter income was almost level with year-ago figures. First-half net income was $14.2 million ($.90 per diluted share) on sales of $658.8 million, compared to the year-ago $11.4 million ($.74 per share) and $623.8 million, respectively. Second-quarter net income was $10.347 million ($.66 per share) on sales of $378.1 million, versus the year-ago $10.353 million ($.67 per share) and $365.1 million. In the Plant Nutrient Group, the company said much higher energy and input costs reduced applications, with farmers essentially spending in line with last year. Operating income from the group was $5 million on sales of $113.3 million, both down from the year-ago $10.3 million and $119.9 million, respectively. Six-month operating income was $3.8 million on sales of $159.3 million, versus the year-ago 49.5 million and $164 million, respectively. Second-quarter operating incomes were up at the company’s other three business units, Grain and Ethanol, Rail, and Turf and Specialty.
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