Sanderson Farms Q2 Net Sales Increase To $487.1m
Sanderson Farms, a processor, marketer and distributor of frozen chicken and other prepared chicken items, has reported net sales of $487.1m for the second quarter of fiscal 2010, compared to $426.8m in the previous year quarter.
Net income for the quarter was $35.1m or $1.62 per diluted share, compared to $26.2m or $1.25 per diluted share in the previous year quarter.
Net sales for the first six months period were $907.2m, compared with $815.6m for the same period last year.
Net income for the first half of the year totaled $50.9m or $2.39 per fully diluted share, compared with net income of $19.5m or $0.93 per fully diluted share for the previous year period.
According to the company, market prices for poultry products were mixed during the second quarter of fiscal 2010 compared with the same quarter a year ago. Despite the ongoing Russian embargo of US chicken, bulk leg quarter market prices were flat with last year's second quarter. Boneless breast meat prices during the quarter were approximately 8.6% higher than the prior year period.
Joe Sanderson jr, chairman and chief executive officer of Sanderson Farms, said: Our results reflect the efficient management of our operations by our managers, employees and contract producers.
Demand for chicken at retail grocery stores remains strong and the ongoing issues we and our industry face in export markets have not yet significantly disrupted the markets. Market prices for boneless breast meat strengthened seasonally and due to limited supply during the quarter.
“While our net sales price and feed costs did not change significantly during the quarter compared to last year's second fiscal quarter, we sold 16% more pounds of fresh chicken during the quarter, and the additional volume allowed us to significantly reduce our average non-feed related costs per pound.
Related Insight
Suppliers Directory
Processed Foods Bakery & Cereals Confectionary Pasta & Noodles Savory Snacks Sweets & Desserts
Condiments & Ingredients Ingredients Oil & Fats Sauces & Spreads Soups
Chilled & Deli Food
Special Foods Baby Food Health Foods
Food Technology Process & Production IT & Software Packaging Sustainability
Marketing & Regulatory Regulatory & Food Safety Supply Chain Retail
Intelligence
Until recently, the beverages market was divided simply between alcoholic and non-alcoholic beverages. As consumers’ tastes grew more sophisticated and demand surged for a variety of beverage options catering to lifestyle changes and health concerns, the beverages industry has responded with a dizzying array of options to choose from. This report focuses on the U.S. and world markets for beverages across several broad categories. For the purposes of this study, TriMark Publications has divided the global beverages markets into the following product segments include: 1) alcoholic beverages such as wines, beers and spirits; 2) non-alcoholic beverages such as bottled water and milk; 3) brewed beverages such as coffees and teas; 4) carbonated beverages such as sodas and soft drinks; 5) non-carbonated juice products both fresh and pre-packaged; and 6) energy drinks which are generally caffeinated beverages in both carbonated and non-carbonated forms. For each market segment, this study presents the latest information on size, growth rates, sales projections and factors influencing growth in the U.S. and internationally. Reports Buy online from $449
Comments may be moderated for spam, obscenities or defamation.