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ADM Profits Nearly Double
DECATUR - Apr 30/04 - SNS -- Archer Daniels Midland (ADM) reported a massive increase in net earnings for the company's third quarter ending March 31.
Net earnings came in at $226.8 million on gross sales of $9,309 million, a significant improvement on earnings of $116.8 million on sales of $7,908 million during the same period last year.
The results lifted net earnings for the nine months ending March 31 to $597.8 million on sales of $26,465 million; compared to net earnings of $356 million on sales of $22,660 million one year earlier.
Discussing the results, ADM said Segment Operating profit increased $260 million to $502 million for the quarter and increased $513 million to $1.3 billion for the nine months as operating profit improvements were realized in all major segments.
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