Business Services Industry
Grants Support Atchison, Kan., Grain Company.
Knight Ridder/Tribune Business News, August, 2002
By Eric Palmer, The Kansas City Star, Mo. Knight Ridder/Tribune Business News
Aug. 13--Government grants and subsidies provided nearly all of the net income realized by Midwest Grain Products in fiscal 2002, the company reported Monday.
The Atchison, Kan., maker of grain-based products reported net earnings of about $6.3 million, or 77 cents per share, for fiscal 2002 that ended June 30. That compared to net income of $2.7 million, or 32 cents per share, for fiscal 2001. The company had sales of about $214.5 million for fiscal 2002, compared with sales of $229.2 million in fiscal 2001.
About $2.95 million of the net income for the year resulted from a program to support makers of wheat gluten, a bread baking ingredient that has been...
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