Tyson income grows in fiscal second quarter

01-05-2007 | |

Tyson Foods, from Springdale, Arkansas, US, posted a net income of $68 million for the second fiscal quarter, ending March 31st.

This way, the world’s largest producer of chicken, beef and pork lot better than the loss of $127 million in the same quarter of the previous year.

Sales during the quarter were $6,501 million, an increase of 4% from $6,251 million during the same period of 2006.

“Quarterly operating income improved $300 million over the same period last year,” said Richard L. Bond, president and CEO. “All segments were profitable, and it was our strongest performance since the fourth quarter of fiscal 2005.”

Pork business
“Our pork business is well within our target margin objectives.” Pork sales were $805 million, up from $729 million from the same quarter of the previous year.

Beef figures were back in the black and poultry revenues were also within target margin objectives.

Improved margins were related to cost-cutting of more than $200 million per year, Bond said.

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