The Andersons reports record profit for quarter
5/8/2012The Andersons Inc. reported a record first-quarter profit Monday of $18.4 million, or 98 cents a share, on revenues of $1.1 billion.
The Maumee agribusiness said its profits were up 6 percent from $17.3 million, or 93 cents a share, for the same period a year ago, when it had revenues of $1 billion.
The company credited the record performance largely to its grain and rail groups. The grain group had operating income of $19.4 million, up from $15.1 million a year ago, and the rail group had operating income of $8 million, up from $3.5 million.