ADM reports 1Q earnings
Archer-Daniels-Midland Co. reported less-than-expected earnings
from continuing operations and flat sales for its fiscal first
quarter, Dow Jones journal...
from continuing operations and flat sales for its fiscal first
quarter, Dow Jones journal...
Archer-Daniels-Midland Co. reported less-than-expected earnings from continuing operations and flat sales for its fiscal first quarter, Dow Jones journal reported yesterday. For the quarter ending Sept. 30, ADM, a maker of food additives and ingredients for food companies, posted net income of $109.4 million, or 17 cents a share, compared to $36.4 million, or six cents a share, in the year-earlier period. Sales were little-changed at $4.63 billion, compared with $4.61 billion a year earlier. The latest results included security losses of $16 million and a nonrecurring gain of $95 million related to an overseas affiliate. Excluding those items, the company said it would have reported earnings of five cents a share.
