The Andersons, Inc., of Maumee, said yesterday it plans to restate income for 2002 and the first quarter of this year. Profit for 2002 will increase by $900,000, or 13 cents a share, and profit for the first quarter of 2003 will decrease by $900,000, or 13 cents a share.
The company said the decision to restate its numbers was made after it determined that the earnings reported under a five-year grain marketing agreement do not follow a new accounting directive that became effective for the 2002 calendar year. The company said the move is a timing revision between reporting periods.
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