The Andersons, Inc. (Nasdaq: ANDE), today announced second quarter net income attributable to the company of $29.5 million, or $1.57 per diluted share, on revenues of $1.6 billion. In the same three month period of 2012, the company reported similar results of $29.2 million, or $1.56 per diluted share on revenues of $1.3 billion. During the first six months of 2013, the company earned $42.1 million, or $2.24 per diluted share. In the first half of 2012, The Andersons reported results of $47.6 million, or $2.54 per diluted share. The revenue for the first six months of 2013 and 2012 were $2.8 billion and $2.5 billion, respectively.
The Plant Nutrient Group had operating income of $23.2 million during the second quarter on revenues of $330 million. In the same three month period of 2012, the group had operating income of $28.0 million on revenues of $309 million. This quarter the group regained much of the volume lost in the first quarter; however, margins were down year over year. The group's first half 2013 operating income was $22.7 million on $442 million of revenues. Last year, the operating income through the first six months was $33.8 million on revenues of $484 million. Margins from year to year were down due to a slow start to the season and limited inventory price appreciation.
The Ethanol Group achieved record operating income of $10.6 million in the second quarter on revenues of $222 million. This compares to an operating loss of $2.1 million during the same period last year on revenues of $168 million. This income increase was due primarily to significant ethanol margin improvement, which includes the positive impact of co-products such as corn-oil, distillers dried grains, E-85, and CO2. Also, the group had a full quarter of income from its Denison, Iowa production facility compared to the prior year as the acquisition occurred in May of 2012. The group's operating income through June was $13.1 million on revenues of $422 million. Last year, its first half operating loss was $2.0 million on revenues of $318 million. The revenue increase was due to added volume from the Denison plant and an increase in the average price per gallon of ethanol.
The Rail Group achieved record operating income of $9.7 million in the second quarter on revenues of $39 million. In the same three month period of 2012, the group earned $7.2 million and revenues were $32 million. The group's revenue and operating income benefited from higher lease rates and increased income from railcar financings. The group recognized $4.4 million in pre-tax gains on sales of railcars and related leases and non-recourse transactions during the second quarter this year. In the same period of 2012, the company recognized gains of $2.4 million on similar transactions. The average utilization rate for the quarter was 85.7 percent in comparison to 84.7 percent for the same period last year. The group's first half operating income was a record $24.3 million on $85 million of revenues. In 2012, operating income through June was $15.2 million and revenues were $68 million. The rail fleet has increased to 23,245 cars from 23,107 last year.
The Grain Group reported operating income of $2.1 million in the second quarter of 2013, compared to $15.3 million in the same three month period last year, as it continued to be impacted by the 2012 drought, which led to significantly reduced space income. The group benefited from good second quarter earnings from its investment in Lansing Trade Group. Revenues for the Grain Group were $891 million and $719 million for the quarter in 2013 and 2012, respectively. The group's operating income for the first six months was $10.4 million on revenues of $1.7 billion. Last year, its first half operating income was $34.7 million and revenues were $1.4 billion. Revenues increased due to higher grain prices and greater sales volume, which resulted primarily from the addition of the former Green Plains Grain facilities.