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  • Profit shoots up 68 percent for ADM

    01/31/2004 10:14:02 AM PST · by Tumbleweed_Connection · 1 replies · 202+ views
    Archer Daniels Midland Co. said fiscal second-quarter earnings soared 68 percent to $221 million, or 34 cents a share, on improved performance in all of its major business segments, handily beating Wall Street's expectations. The agribusiness giant said that without a one-time charge of 3 cents a share for asset abandonment, ADM would have earned 37 cents a share for the latest quarter. Analysts surveyed by Thomson First Call were looking for earnings before charges of 27 cents a share. Revenues for the quarter totaled $9.2 billion, up 18 percent. In other earnings news: GATX Corp., which leases airplanes and...