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Published: Thursday, 11/3/2005

The Andersons posts loss for 3rd quarter

The Andersons Inc. said yesterday it had a loss of $636,000 in the third quarter, or 9 cents a share, compared with a $1 million profit, or 14 cents a share, for the same period a year ago.

The Maumee agribusiness reported quarterly revenues of $289 million, up 16 percent from $248 million last year. Its railcar unit had a strong operating income of $5.8 million, but the firm s other units posted operating losses.

Still, the company said it is still on track to achieve $2.20 to $2.50 a share profi t for the year.

The news apparently cheered investors. The company stock price rose $2.21, or 6 percent, yesterday to close at $37.21 on Nasdaq.

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