DECATUR, Ill. -- Archer Daniels Midland Company today announced net earnings of $8 million for the quarter ended March 31, 2009, including a $132 million non-cash after-tax charge related to currency derivative losses of the Company's equity investee, Gruma S.A.B. de C.V., and a $97 million income tax charge related to the Company's investment in Wilmar International Limited. Net earnings for the quarter ended March 31, 2008 were $517 million. Net sales and other operating income decreased 21 percent to $14.8 billion.



"While the quarterly results were adversely impacted by two significant, unusual items, our underlying performance was solid in view of the global economic conditions and the associated challenges faced by our industry," said Chairman of the Board and Chief Executive Officer Patricia Woertz. "Our financial condition is strong, and we remain focused on managing risks and costs as we execute our long-term growth strategy."



Every day, the 27,000 people of Archer Daniels Midland Company (NYSE:ADM) turn crops into renewable products that meet the demands of a growing world. At more than 230 processing plants, ADM converts corn, oilseeds, wheat and cocoa into products for food, animal feed, chemical and energy uses. ADM operates the world's premier crop origination and transportation network, connecting crops and markets in more than 60 countries. The global headquarters is in Decatur, Illinois, and net sales for the fiscal year ended June 30, 2008, were $70 billion.



SOURCE: Archer Daniels Midland Company.