Andersons Profit Tops Estimates

(RTTNews) - Farm products company Andersons Inc. (ANDE) Wednesday reported third-quarter net income of $17.16 million or $0.91 per share compared with $16.88 million or $0.90 per share last year.

Andersons engages in the grain, ethanol, plant nutrient, railcar leasing, turf and cob products, and consumer retailing businesses

The Maumee, Ohio-based company posted quarterly revenues of $1.18 billion compared with $1.14 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.61 per share on revenues of $1.11 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, CEO Mike Anderson said, "Our expectation for the last quarter of the year is that it will be comparable to results seen in 2010 and 2011. The fourth quarter of 2012 results were tempered by the drought, which we are happy to say is behind us; we are instead in the midst of a record corn crop."