Sales decline at Tyson
05/05/2006
The world’s largest processor and marketer of chicken, beef and pork Tyson Foods, Inc. has posted a fall in sales in the second fiscal quarter ended April 1. Second quarter sales fell to $6.3 billion from $6.4 billion in the same period last year.
Sales for the first six months of fiscal 2006 were $12.7 billion compared with $12.8 billion for the same period last year. Operating loss for the first six months of fiscal 2006 was $27 million compared with operating income of $312 million, and net loss was $88 million compared with net income of $124 million for the same period last year.
Beef constituted 45.7% of net sales in the second quarter and 45.4% in the six-month period. Increased volumes resulted in increased sales, which were offset by the inability to achieve satisfactory margins. Beef segment sales increased 2.9% and 3.6% in the second quarter and six months respectively compared with the same periods last year.
Pork constituted 11.7% of net sales in the second quarter and 12% in the six month period.
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