Tyson processes a sales record in fiscal 3Q
Jul 26, 2004 12:24 PM, from staff and wire reports
Tyson Foods Inc, the Springdale AR-based meat processor and marketer, reported fiscal third-quarter 2004 sales of $6.6 billion, compared with $6.3 billion for the same period a year ago. Operating income was $323 million versus $201 million for the 2003 period, and earnings totaled $161 million compared with $79 million for the period a year earlier.
Sales for the nine months of fiscal 2004 were $19.3 billion, in contrast to $18.0 billion for the same period a year ago. Operating income for the nine months of fiscal 2004 was $747 million compared with $529 million in 2003, and earnings totaled $337 million versus $190 million for the same period a year earlier.
John Tyson, chairman and chief executive officer, said, “We generated record sales and net income in spite of higher grains, raw material costs, and limited access to export markets. Our pricing and mix of value added products improved, and our strong cash flow put us on target to reach the lower end of our debt goal by the end of the fiscal year.”
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