Maumee, Ohio-The Andersons Inc. reported record revenues and income earnings per share for the year ending Dec. 31, 2006. Net income for the year was $36.3 million with diluted earnings per share of $2.19, which beat earlier guidance. Revenues were $1.46 billion. Net income for 2005 was $26 million ($1.69 per share) on sales of $1.3 billion. Fourth-quarter net income was off at $13.8 million ($.76 per share) on sales of $463.4 million, versus the year-ago $15.3 million ($.99 per share) and $384.4 million, respectively. Fourth-quarter and annual results for the company’s plant nutrients group were off. The company said farmers reduced applications due to higher energy and input costs during the growing season. This resulted in lower wholesale and retail demand for nutrients, including a deferral of fall season purchasing and a reduction in the group’s gross profit and operating income. For 2006, operating income was $3.3 million on sales of $265 million, compared to 2005’s $10.3 million and $271.4 million, respectively. Fourth-quarter operating income was $1.3 million on sales of $67.1 million, versus the year-ago $1.6 million and $60.4 million.
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