DECATUR, Ill. -- Archer Daniels Midland Company reports that net earnings for the year ended June 30, 2006, increased 26 percent to $1.312 billion ($2/share), up from $1.044 billion ($1.59/share) last year.



"ADM delivered its second consecutive year of record earnings," said CEO and President Patricia Woertz. "Credit goes to the people of ADM and the alignment of our strategy, global portfolio of assets and strong management team. We have good momentum going forward and are well-positioned to capitalize on our opportunities for continued growth."



Net earnings for the quarter more than doubled, to $410 million, up from from $195 million last year.



Oilseeds processing operating profit increased on improved market conditions in all geographic areas. Corn processing operating profit increased due to improved ethanol and sweetener selling prices and volumes.



Agricultural services operating profit increased principally due to improved transportation results. Other segment operating profit declined, primarily due to decreased results of food & feed ingredients.



Archer Daniels Midland Company, Decatur, Ill., is a world leader in agricultural processing and fermentation technology. ADM is one of the world's largest processors of soybeans, corn, wheat and cocoa. ADM is also a leader in the production of soybean oil and meal, ethanol, corn sweeteners and flour. In addition, ADM produces value-added food and feed ingredients.



SOURCE: Archer Daniels Midland Company via PR Newswire.