Maumee, Ohio—The Andersons Inc. announced secondquarter net income attributable to the company of $29.2 million ($1.56 per diluted share) on revenues of $1.3 billion, compared with $45.2 million ($2.42 per diluted share) on similar revenues during last year’s second quarter. During the first six months of 2012, the company earned $47.6 million ($2.54 per diluted share) on revenues of $2.5 billion, compared with $62.5 million ($3.34 per diluted share) on revenues of $2.3 billion during the first half of 2011. The Plant Nutrient Group saw increases in both income and revenues from last year, which it attributed to increased volumes. Margins for the segment were down slightly yearoveryear, but still historically strong. Operating income for the group was $28 million on revenues of $309 million for the second quarter, compared with $24.1 million and $260 million, respectively, in last year’s second quarter. The group’s first half 2012 operating income was $33.8 million on $484 million of revenues, compared with $29.2 million and $383 million, respectively, during the first six months of 2011. The Ethanol Group had an operating loss of $2.1 million for the second quarter and $2.0 million for the first six months, which the company attributed to a decrease in earnings from its ethanol investment affiliates, whose income was significantly impacted by lower ethanol margins resulting from increased corn costs and lower ethanol demand. “We had a good quarter, although our expectations for the remainder of the year have been tempered by the drought conditions currently being experienced, which will certainly impact our grain and ethanol businesses,” CEO Mike Anderson said.
Transparency Across the Fertilizer Value-Chain