Archer Daniels Midland reported that net earnings for the quarter ended December 31, 2005, increased 17 percent to $368 million, or $.56 per share, compared with $314 million or $.48 per share last year.

Second quarter segment operating profit increased 8 percent to $524 million, up from $485 million last year. Oilseeds processing operating profit increased on generally improved market conditions.

Corn processing operating profit increased principally due to lower net corn costs. Agricultural services operating profit increased on improved transportation results.

Other segment operating profit declined primarily due to food & feed ingredients impairment charges and a decline in financial earnings from ADM's private equity funds.

Archer Daniels Midland Company is a world leader in agricultural processing nd ADM is one of the world's largest processors of soybeans, corn, wheat and cocoa. ADM is also a leader in the production of soy meal and oil, ethanol, corn sweeteners and flour. In addition, ADM produces value-added food and feed ingredients. Headquartered in Decatur, Illinois, ADM has over 25,000 employees, more than 250 processing plants and net sales for the fiscal year ended June 30, 2005 of $35.9 billion.

SOURCE: Archer Daniel Midlands via PR Newswire.