Tyson Foods Q1 Net Sales Increase
Published:05-February-2010
By Staff Reporter
Tyson Foods has reported net sales of $6.7bn for the first quarter of 2010 compared to $6.5bn for the same quarter previous year. Operating income for the quarter was $314m compared to operating loss of $198m for the previous year quarter.
Net income for the quarter was $159m or $0.49 per diluted share compared to net loss of $104m or $0.29 per diluted share.
Sales for the chicken segment for the first quarter was $2.4m compared to $2.2m for the prior year quarter. Operating income was $78m, compared to the previous year quarter.
Sales for the beef segment was $2.7m, compared to $2.6m for the corresponding quarter prior year. Operating income for the quarter was $119m.
Sales for the pork segment was $815m, compared to $878m for the last year quarter. Operating income for the quarter was $62m compared to $55m for the same period last year.
Prepared foods sales for the quarter was $713m compared to $746m for the previous year quarter. Operating income for the quarter was $55m compared to $35m for the prior year quarter.
Donnie Smith, president and chief executive officer of Tyson's, said: "With more than half a billion dollars in operating cash flow, we generated a record first quarter EPS of $0.42 and drove down net debt by $400 million. Beef, Pork and Prepared Foods continued to execute well, and Chicken began to show the improvement we've been working toward for more than a year.
"Our team members did a great job of staying focused and making progress week after week. We're developing momentum that I believe will continue through the year and into 2011."
