Maumee, Ohio-The Andersons Inc.’s Plant Nutrient Group reported its best ever quarterly operating income for the second quarter ending June 30, 2007. Operating income was $17.1 million on revenues of $183 million, versus the year-ago $5.0 million and $113.3 million, respectively. “Our second-quarter and first-half results were gratifying,” said President and CEO Mike Anderson. “The entire Plant Nutrient team did an excellent job in responding to unprecedented market demand this spring, and our Grain & Ethanol businesses continued to achieve significant income growth, and we were again able to expand our railcar fleet.” Six-month Plant Nutrient operating income was $17.5 million on sales of $249.5 million, versus the year-ago $3.8 million and $159.3 million, respectively. Company-wide, second-quarter net income was $25.5 million ($1.40 per diluted share) on revenues of $634.2 million, versus the year-ago $10.3 million ($.66 per share) and $378.1 million, respectively. Six-month net income was $34.7 million ($1.90 per share) on sales of $1.04 billion, up from $14.2 million ($.90 per share) and $658.8 million, respectively. The company has increased its guidance for full-year earnings to $2.90-$3.15 per share.
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