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Published: Thursday, 11/5/2009

Andersons says profit, sales fall in third quarter

The Andersons Inc., the Maumee-based grain wholesalers and general store operator, yesterday reported sharply lower profit and sales for the third quarter.

The company's quarterly profit was $1.3 million, or 7 cents a share, down from $12.8 million, or 70 cents a share, for the same period a year ago. Sales fell to $601 million from $906 million a year ago.

The company's primary grain and ethanol group had operating income comparable to a year ago, but had an operating loss in its rail, fertilizer, and retail groups. Executives said they were “disappointed” with the results.

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