ADM Profits Soar

NEW YORK - May 1/07 - SNS -- Archer Daniels Midland reported net earnings of U.S. $362.891 million on sales $11,381.2 million for the third quarter ending March 31, compared to a net of $347.796 on sales of $9,122.8 million during the same three month period last year.

This lifted fiscal year to date net earnings to $1,206.904 million on sales of $31,804.1 million, compared to a net of $901.811 million on sales of $27,048.8 million during the same nine-month period of the previous fiscal year.

Discussing the financial results, ADM said "Oilseeds Processing operating profits decreased $8 million to $169 million for the quarter and increased $126 million to $530 million for the nine months.

"Improved gross margins in all geographic regions for the nine months contributed to the increase although the current quarter declined on reduced softseed and biodiesel processing margins. Results for the quarter and nine months ended March 31, 2006 included a $4 million charge for abandonment and write down of long lived assets."

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