Sanderson Farms reaps plentiful fiscal harvest
May 25, 2004 11:06 AM, from staff and wire reports
Laurel MS-based poultry producer Sanderson Farms Inc reported results for the second fiscal quarter and six months ended April 30, 2004.
Net sales for the second quarter of fiscal 2004 were $272.7 million, compared with $201.2 million for the same period a year ago. For the quarter, Sanderson tallied net income of $33.4 million, versus net income of $12.8 million for the second quarter of fiscal 2003.
For the first six months of fiscal 2004, net sales totaled $499.1 million compared with $385.4 million for the first half of fiscal 2003. Net income for the first half of the year totaled $52.4 million, versus net income of $18.1 million for the first six months of fiscal 2003.
Sanderson also plans to invest $96 million to build a new poultry processing complex in Georgia. This facility will employ about 1,700 workers, require 130 contract growers, and have the capacity to process 1.2 million birds weekly.
The company anticipates associated contract growers will invest another $85 million in poultry production facilities. It expects operations at the new complex will start during the fourth fiscal quarter of 2005.
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