World Grain - December 2008 - 17

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CHS records fifth straight year of higher earnings, sales
ST. PAUL, MINNESOTA, U.S. - Higher
values for energy, grains, crop nutrients and
other commodities led to record earnings and
revenues at CHS Inc. in fiscal 2008. Net income in the year ended Aug. 31 was $803 million, up 6% from $756 million in fiscal 2007.
Revenues for the period, meanwhile,
soared 87% to $32.2 billion from $17.2 billion in the same period a year ago.
The fiscal 2008 results marked the fifth
consecutive year of higher income and revenues for CHS.
The company's Ag Business segment,
which consists of CHS's agronomy, grain
marketing and retail operations, posted operating earnings of $448 million on sales of
$19.7 billion, up sharply from $89.6 million
and $8.6 billion, respectively, in fiscal 2007.
CHS said its fiscal 2008 Ag Business earnings included a $91.7 million gain on the
sale of the company's remaining shares of
CF Industries Holdings, Inc., a crop nutrients
maker.
"Our grain marketing operations improved
earnings by $183.7 million during fiscal
2008 compared with fiscal 2007, primarily
from increased grain volumes and improved
margins on those grains, and also included
strong earnings performances from our joint
ventures," CHS said.
Earnings also were up significantly in
CHS Processing operations, which include
its oilseed processing, wheat milling, food
production and renewable fuels operations.
Operating earnings in fiscal 2008 were $32.2
million, up from $4.7 million, while sales
rose to $1.3 billion from $755 million.
CHS said earnings from oilseed processing
operations increased $23.5 million during the

Seaboard earnings
down in third quarter
SHAWNEE MISSION, KANSAS, U.S. -
Seaboard Corporation announced on Nov.
4 that its net income for the third quarter
ended Sept. 27 declined 37% to $32.9 million from $52.6 million in the third quarter
last year.
Net sales were $1.13 billion, up 41% from
$801 million during the third quarter of the
previous year.
For the first nine months of fiscal 2008, the
company posted net income of $124 million,
down from $144 million during the same period in 2007. Net sales were $3.13 billion, up
from $2.72 billion during the first nine months
of the previous year.

year behind improved margins in crushing operations, while earnings from wheat milling
joint ventures rose $29 million.
The company's share of earnings from
Ventura Foods, its packaged foods joint venture, fell $15.8 million during the year.
Energy earnings fell to $361 million
from $746 million during fiscal 2008. Sales,

meanwhile, rose 42% to $11.5 billion.
As the year ended, CHS recorded a
$71.7 million impairment on the value of its
investment in VeraSun Energy Corp, an ethanol manufacturer that recently filed for reorganization under Chapter 11 bankruptcy.
CHS Inc. owns approximately 8% of
VeraSun.

PRESIDENT
position available

President opportunity at the MFS/York/Stormor division - Brownie Product lines,
of Global Industries, Inc. in Grand Island, NE. Global Industries, Inc. is a world-wide
manufacturer of grain storage and handling equipment. President plans, directs and
coordinates operations of Grand Island manufacturing facility and its approximately
200 employees. President represents the Company with its major customers and the
public. Requires strong manufacturing background with experience in lean manufacturing and/or six-sigma principles. Strong ﬁnancial understanding of manufacturing
operations and extensive management experience are a must. Candidates should have a
college degree (4 yr) in Business Management or related ﬁeld. Comprehensive beneﬁts
and compensation package (including company vehicle and bonus program). Qualiﬁed
candidates only please. Send resume with cover letter (including salary requirements) to
Global Industries, Inc., Attn: Human Resources, 2928 E Hwy 30, Grand Island, NE
68801 or hr@globalindinc.com. Visit our website at www.globalindinc.com. EOE.
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For more information, see Page 82.

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World Grain - December 2008

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