Tyson reports Q2 results lifted by chicken sales
Tyson Foods, Inc. has reported second quarter 2005 sales ended
Operating income was $183 million compared to $263 million and net income was $76 million compared with $119 million for the same period last year.
Pretax earnings included $2 million of costs related to poultry and prepared foods plant closings.
Sales for the first six months of fiscal 2005 were $12.8 billion compared with $12.7 billion for the same period last year. Operating income was $312 million compared with $424 million and net income was $124 million compared with $176 million for the same period last year.
John Tyson, chairman and CEO, said, "Sales increased across all four of our primary operating segments during the second quarter. The Chicken segment in particular delivered strong performance as a result of increased prices and lower grain costs. In addition, we continued to improve our sales mix of value added chicken, beef and pork products. Looking forward, we expect strong chicken demand and improving domestic cattle supplies to result in significant improvements in our results in the second half of the fiscal year, compared with the first two quarters."
