Record Q3 at Darling International
Darling International Inc. has reported record sales of $171.8 million for the third quarter up from $115.2 million in the same period last year and boosted by higher finished product prices and increased raw material volume. Net income increased to $12.1 million compared with $1.8 million.
For the first nine months net sales increased by a staggering $191 million to reach $469.9 million, which the company largely attributed to additional sales resulting from its acquisition of substantially all of the assets of National By-Products in May and improved prices for finished products.Net income reached $31.2 million compared with a net loss of $1 million in the same prior-year period.
Darling manufactures products such as tallow, feed-grade fats, meat and bone meal and hides which are primarily sold to agricultural, leather, oleo-chemical and bio-diesel manufacturers.
