Andersons, Inc (ANDE) Posts Profit In 2008 But Loss In 4th Quarter

The Andersons just reported their 4th quarter and full year results. Although the company reported net income of $32.9 million, or $1.79 per share, the full year results represent a 54% decrease in net income from 2007, then the company earned $68.8 million, or $3.75 per share.

Looking at just the 4th quarter, the company reported a loss of $33.4 million, or $1.85/share. In the 4th quarter of last year, the company reported net income of $23.5 million, or $1.28 per share. Revenue also took a turn for the worse, falling 2% to$770.1 million.

The company’s performance was below analyst’s expectations, as they had expected a loss of $1.23 per share and revenue of $905.3 million, not counting one-time items. According to, the poor 4th quarter performance was attributed to "a loss at an investment and a mark-to-market adjustment." These included a loss from the company’s investment in Lansing Trading Group and an adjustment in their plant nutrient group caused by fluctuations in the fertilizer market.

President and CEO Mark Anderson commented on the results:

"Although our full-year earnings could be viewed as respectable versus history, since they are our third best historical performance, this is overshadowed by the fact that I am deeply disappointed in our fourth-quarter results. We could have done better."

Leave a Reply

Your email address will not be published. Required fields are marked *