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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950124-01-000434.txt : 20010205
<SEC-HEADER>0000950124-01-000434.hdr.sgml : 20010205
ACCESSION NUMBER:		0000950124-01-000434
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20010119
ITEM INFORMATION:		
ITEM INFORMATION:		
FILED AS OF DATE:		20010202

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARCHER DANIELS MIDLAND CO
		CENTRAL INDEX KEY:			0000007084
		STANDARD INDUSTRIAL CLASSIFICATION:	FATS & OILS [2070]
		IRS NUMBER:				410129150
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		
		SEC FILE NUMBER:	001-00044
		FILM NUMBER:		1521996

	BUSINESS ADDRESS:	
		STREET 1:		4666 FARIES PKWY
		CITY:			DECATUR
		STATE:			IL
		ZIP:			62526
		BUSINESS PHONE:		2174244798
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c59865e8-k.txt
<DESCRIPTION>FORM 8-K
<TEXT>

<PAGE>   1
================================================================================


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  -------------

                                    FORM 8-K


                                 CURRENT REPORT
     PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934


Date of Report (Date of earliest event reported)  January 19, 2001
                                                 -------------------------------


                         ARCHER-DANIELS-MIDLAND COMPANY
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


            DELAWARE                      1-44                  41-0129150
- ------------------------------  ------------------------  ----------------------
 (State or other jurisdiction   (Commission File Number)      (IRS Employer
       of incorporation)                                    Identification No.)





      4666 FARIES PARKWAY, BOX 1470
            DECATUR, ILLINOIS                                  62525
- -------------------------------------------        -----------------------------
 (Address of principal executive offices)                    (Zip Code)



Registrant's telephone number, including area code  217-424-5200
                                                   -----------------------------



================================================================================
<PAGE>   2


Item 5. Other Events.

        On January 19, 2001, Archer-Daniels-Midland Company announced its
results for the second quarter ended December 31, 2000.


Item 7. Financial Statements and Exhibits.

        The following information follows or is attached hereto as an exhibit:

        (a)    Financial Statements of the registrant: Not required.

        (b)    Pro Forma Financial Information of registrant: Not required.

        (c)    Exhibits

        99.1   Press Release dated January 19, 2001




<PAGE>   3


                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                            ARCHER-DANIELS-MIDLAND COMPANY


Date:  February 1, 2001                      /s/ D.J. Smith
                                            ------------------------------------
                                                 D.J. Smith
                                                 Vice President, Secretary and
                                                 General Counsel





<PAGE>   4


                                  EXHIBIT INDEX

                                                                      Method
Exhibit              Description                                    of Filing
- -------              -----------                                    ----------
                                                                       Filed
99.1    Press Release dated January 19, 2001 .................... Electronically



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c59865ex99-1.txt
<DESCRIPTION>PRESS RELEASE DATED 1/19/01
<TEXT>

<PAGE>   1


                                                                    EXHIBIT 99.1



FOR IMMEDIATE RELEASE
JANUARY 19, 2001


              ARCHER DANIELS MIDLAND REPORTS SECOND QUARTER RESULTS


DECATUR, IL -- JANUARY 19, 2001 -- ARCHER DANIELS MIDLAND (NYSE: ADM)

o   SECOND QUARTER EARNINGS PER SHARE WERE $0.20, UP FROM $0.16 IN LAST YEAR'S
    SECOND QUARTER.

    - Earnings from operations increased 11% to $229 million compared with the
      year-ago quarter.

    - Results were driven primarily by improvements in ethanol, feed and cocoa
      product categories.

o   EFFORTS TO IMPROVE ASSET UTILIZATION AND REDUCE COSTS ARE HAVING A POSITIVE
    IMPACT ON RESULTS.

    - Feed:  last year's restructuring contributed to substantially improved
             results.

    - Cocoa: plant closings and production shifts among plants are improving
             productivity.

    - Oilseed crushing: ADM's capacity reductions during 2000 are increasing
                        asset utilization.


<TABLE>
<CAPTION>
SECOND QUARTER AND SIX-MONTH HIGHLIGHTS
(Amounts in thousands, except per share data and percentages)
- ------------------------------- -------------------------- --------- -------------------------- --------
                                   SECOND QUARTER ENDED       %           SIX MONTHS ENDED        %
                                  12/31/00      12/31/99    Change     12/31/00      12/31/99   Change
- ------------------------------- ------------- ------------ --------- ------------- ------------ --------
<S>                             <C>           <C>          <C>        <C>           <C>          <C>
Net Sales and Other Operating
     Income                     $4,940,999    $4,615,421       7%     $9,575,783    $9,226,687      4%

Earnings from Operations        $  228,865    $  206,797      11%     $  343,450    $  308,382     11%

Net Earnings                    $  124,607    $  101,920      22%     $  234,036    $  138,287     69%

Earnings per Share (1)          $     0.20    $     0.16      25%     $     0.37    $     0.22     68%

Average Shares Outstanding         633,402       639,210     (1)%        632,992       640,489    (1)%
- ------------------------------- ----------    ----------    -----     ----------    ----------   -----

(1) Includes net gains from
sales of investments            $     0.00    $     0.01              $     0.12    $     0.01
- ------------------------------- ----------    ----------    -----     ----------    ----------   -----
</TABLE>



================================================================================

"We are encouraged by our progress in the second quarter, especially in our core
operations. Ongoing initiatives to rationalize capacity and shift production
among our plants are not only increasing our asset utilization, they're having a
positive impact on market conditions as well. Looking ahead, ADM's outlook is
buoyed by current improvement in several key markets and intensified efforts to
strengthen the returns of our businesses."

                -- G. Allen Andreas, Chairman and Chief Executive

================================================================================

                                     -MORE-


<PAGE>   2


Archer Daniels Midland
Page 2


SECOND QUARTER RESULTS

Net earnings for the second quarter ended December 31, 2000 were $125 million or
$0.20 per share, compared with $102 million or $0.16 per share in last year's
second quarter.

Second quarter earnings from operations increased 11% to $229 million, compared
with $207 million in last year's second quarter. The increase was driven by
improvements in ethanol, feed, and cocoa product categories, although results
were negatively impacted by increased energy costs.

During the second quarter, feed improved considerably due primarily to last
year's restructuring, which resulted in reduced costs, lower headcount and
streamlined operations. Demand continued to be strong for ethanol, mainly as a
result of an ongoing market shift from MTBE to ethanol for use as a gasoline
additive. Second quarter results were reduced by weak industrywide corn
sweetener prices, although in recent weeks new contract prices have improved.
Cocoa profitability increased, resulting from both stronger product demand and
restructuring efforts over the past two years to reduce capacity, shift
production and streamline ADM's product offering. Fundamentals in oilseed
crushing improved as soybean product demand rose in key international markets,
driven by improving Asian economies and greater use of soybean meal in Europe to
feed livestock due to concerns about Mad Cow disease. Oilseed crushing margins
were also strengthened by ADM's reductions in capacity and shifts in production
among plants.


SIX-MONTH RESULTS

Net earnings for the six months ended December 31, 2000 were $234 million or
$0.37 per share, compared with $138 million or $0.22 per share in last year's
six-month period. Six-month earnings from operations increased 11% to $344
million, up from $308 million in the year-ago period. Six month earnings ended
December 31, 2000 included net gains from sales of investments of $0.12 per
share, compared to $0.01 per share in the six months ended December 31,1999.


CONFERENCE CALL INFORMATION

Archer Daniels Midland will hold a conference call to discuss second quarter
results at 1:00 pm CDT on January 19, 2001. To participate in the live
conference call on listen-only mode, please dial 800-305-1078 at least five
minutes before the call begins. To listen to a live broadcast via the Internet,
please access the ADM Web site at http://www.admworld.com . A replay will be
available on ADM's Web site for approximately 90 days.


                                     -MORE-


<PAGE>   3


Archer Daniels Midland
Page 3


Archer Daniels Midland (ADM) is a world leader in agricultural processing. The
company is the world's largest processor of soybeans, corn, wheat and cocoa. ADM
is also a leader in soy meal and oil, ethanol, high fructose corn syrup (HFCS),
and flour. In addition, ADM is building a position in such value-added products
as food additives and nutraceuticals (such as Vitamin E and sterols).
Headquartered in Decatur, Illinois, ADM is listed on the New York Stock Exchange
under the ticker symbol ADM. Additional information can be found on ADM's Web
site at http://www.admworld.com.


Some of the above comments constitute forward-looking statements that reflect
management's current views and estimates of future economic circumstances,
industry conditions, Company performance, and financial results. The statements
are based on many assumptions and factors including availability and prices of
raw materials, product pricing, competitive environment and related market
conditions, operating efficiencies, access to capital, and actions of
governments. Factors that could cause or contribute to such differences include,
but are not limited to, those discussed in the company's Form 10-K for the
fiscal year ended June 30, 2000. Any changes in such assumptions of factors
could produce significantly different results.

CONTACTS:
Larry Cunningham                                   Dwight Grimestad
Senior Vice President Corporate Affairs            Vice President, Investor
217/424-5413                                       Relations
                                                   217/424-4586


                            (FINANCIAL TABLE FOLLOWS)


<PAGE>   4

 Archer Daniels Midland
 Page 4



 ARCHER DANIELS MIDLAND COMPANY
 CONSOLIDATED STATEMENTS OF EARNINGS (unaudited)

<TABLE>
<CAPTION>

                                                     Three months ended December 31             Six months ended December 31
                                                        2000               1999                   2000                 1999
                                                    ------------       -------------         -------------        -------------
                                                                    (in thousands, except per share amounts)
<S>                                                 <C>                <C>                   <C>                  <C>
 Net sales and other operating income *             $  4,940,999        $  4,615,421         $   9,575,783        $   9,226,687
 Cost of products sold and other operating costs       4,524,691           4,209,148             8,875,567            8,548,094
                                                    ------------        ------------         -------------        -------------
    Gross Profit                                         416,308             406,273               700,216              678,593
 Selling, general and administrative expenses            187,443             199,476               356,766              370,211
                                                    ------------        ------------         -------------        -------------
    Earnings from operations                             228,865             206,797               343,450              308,382
 Other income (expense)                                  (44,262)            (53,534)              (42,658)            (100,433)
                                                    ------------        ------------         -------------        -------------
    Earnings before income taxes                         184,603             153,263               300,792              207,949
 Income taxes                                             59,996              51,343                66,756               69,662
                                                    ------------        ------------          ------------        -------------
    Net earnings                                    $    124,607        $    101,920          $    234,036        $     138,287
                                                    ============        ============          ============        =============

 Basic and diluted earnings per common share        $       0.20        $       0.16          $       0.37        $        0.22

 Average number of common shares outstanding             633,402             639,210               632,992              640,489
                                                    ============        ============          ============        =============

 Other income (expense) consists of:
    Investment income                               $     43,414        $     31,237              $ 79,732             $ 62,084
    Interest expense                                     (99,470)            (99,519)             (200,670)            (184,958)
    Net gain (loss) on marketable securities
    transactions                                             562               6,685               (25,148)              12,677
    Equity in earnings (losses) of affiliates             10,258               5,634                95,414                5,474
    Other                                                    974               2,429                 8,014                4,290
                                                    ------------        ------------          ------------        -------------
                                                    $    (44,262)       $    (53,534)         $    (42,658)       $    (100,433)
                                                    ============        ============          ============        =============
</TABLE>


 *  Effective Fiscal 2001, the Company adopted Emerging Issues Task Force Issue
    #99-19, "Reporting Revenue Gross as a Principal versus Net as an Agent." The
    adoption of this issue results in the Company reporting the total sales
    value of grain merchandised, in lieu of net margins from grain merchandised,
    in the "Net sales and other operating income" category. The "Gross profit"
    category is unchanged as costs related to the grain merchandised are now
    reported in the "Cost of products sold and other operating costs" category.
    Prior year amounts have been reclassified to conform to this change.

                             ###

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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