(01/02/07) Ethanol Demand Drives Profit Increase

ADM posted higher than expected secon-quarter profits due to strong demand for their corn based ethanol production.

ADM reported earning per share at 67cts/share, above analysts' estimates for 60 - 64 cts/share. Net Income was reported at $441.3 million and compares to the year ago period of $367.7 million. ADM executives commented, "Increased starch, sweetener and ethanol selling prices contributed to the improvement."

 

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