August 7, 2009
ADM annual net earnings down six percent
Archer Daniels Midland Company announced net earnings of US$1.7 billion for the year ended June 30, 2009, down 5.5 percent compared to year-prior net earnings of US$1.8 billion.
Fiscal year 2009 net sales and other operating income was US$69 billion, just under the US$70 billion reported the prior year.
Net earnings for the fourth quarter decreased 83 percent to US$64 million. Net sales and other operating income for the quarter decreased 24 percent to US$16.5 billion.
The performance in the fourth quarter is good in view of the global economic downturn, said CEO Patricia Woertz.
There are signs of improving demand in the various food, feed and fuel markets, and the company remains financially strong and well positioned to capture value as global markets recover, according to Woertz.
