Jan 24, 2005 9:18 AM, from staff and wire reports

Pilgrim’s Pride Corp reported record net income of $48.5 million for the first fiscal quarter ended Jan 1, 2005, an increase of $38.2 million compared with net income of $10.3 million in the first quarter of fiscal 2004. The Pittsburg TX-based poultry producer also reported net sales of $1.37 billion for the first quarter of fiscal 2005, a gain of $0.33 billion compared with net sales of $1.04 billion for the same period a year earlier.

“Our record performance in the first fiscal quarter reflects both the successful integration of the November 2003 ConAgra chicken division acquisition and strong performance in our prepared foods and fresh chicken businesses, lower feed ingredient costs, rising exports, and strong demand in the foodservice sector,” said O B Goolsby, president and chief executive officer of Pilgrim’s Pride.