Tyson income down 4% in year
Nov. 21, 2011
SPRINGDALE, ARK. — Higher grain and feed ingredient costs were partly to blame for a 4% decrease in income for Tyson Foods, Inc. during fiscal 2011.
For the year ended Oct. 1, the company had income of $750 million, equal to $1.97 per share on the common stock, which compared with $780 million, or $2.06 per share, during fiscal 2010. Sales for the year were $32,266 million, up 13% from $28,430 million during the previous year.
“In fiscal 2011, we produced record sales and our second-best e.p.s. in company history despite record input costs, which included $675 million in additional feed and ingredient costs in our chicken segment,” said Donnie Smith, president and chief executive officer. “This is a testament to our quality, service and innovation and our focus on business fundamentals and operational efficiencies across all segments of our business.
“We will continue to build on the progress we’ve made in recent years and expect 2012 to be another strong year. Midway into our first fiscal quarter, all segments are profitable.”
The Chicken segment had operating income of $164 million during the quarter, down 68% from $519 million during the previous year. Sales for the segment were $11,017 million, up 9% from $10,062 million.
Operating income in the Beef segment fell 14% to $468 million from $542 million during the previous year. Sales for the segment were $13,549 million, up 16% from $11,707 million.
The Pork segment posted operating income of $560 million, up 47% from $381 million during the previous year. Sales for the segment were $5,460 million, up 20% from $4,552 million.
For the fourth quarter the company as a whole had income of $97 million, or 26c per share, down 55% from $213 million, or 57c per share, during the same quarter of the previous year. Sales for the quarter were $8,404 million, up 13% from $7,441 million. FBN