November 1/Decatur, Ill./Business Wire -- Archer Daniels Midland Company reported financial results for the quarter ended September 30, 2011. The company reported net earnings for the quarter of $460 million, or $0.68 per share, up 33% and 26%, respectively, from the same period one year earlier. Adjusted earnings per share, which excludes the impact of LIFO and other adjustments, of $0.58 was 13% lower than the prior year quarter. Segment operating profit was $699 million, down 9% from the prior year quarter.

"The first quarter presented a difficult and challenging market environment," said ADM chairn and CEO Patricia Woertz. "Margin conditions in our global oilseeds segment were generally weak, and net corn costs were high. We offset some of these pressures with good management of our commodity positions and by capturing opportunities through our broad and diverse portfolio."

"During the quarter, we acquired oilseeds facilities in Poland and India, and expanded our agricultural services operations to support exports. And we returned capital to shareholders through dividends and share buybacks of $347 million," added Woertz. "Looking ahead, we see the margin environment modestly improving, and we are optimistic about the long term."

 From the November 1, 2011, Prepared Foods' Daily News.