Tyson Foods Inc. reported its fourth quarter 2011 net income at $95 million, as compared to $208 million in 2010, down 54% from last year. For the fiscal year, Tyson's net income was down 4.18% from 2010, to $733 million.
The overall operating margin was 2% in the fourth quarter of 2011, with a chicken operating loss of $82 million or -2.9% of sales. The company's beef operating income was $118 million or 3.4% of sales, pork operating income was $113 million or 7.9% of sales, and prepared food operating income represented 3.4% of sales at $28 million.
Tyson did report strong sales of $8.4 billion in the fourth quarter, up 12.9% compared to last year.
"In fiscal 2011, we produced record sales and our second best EPS in company history despite record input costs, which included $675 million in additional feed and ingredient costs in our chicken segment," said Donnie Smith, Tyson's president and CEO.
For fiscal 2012, the company expects chicken industry production will decrease approximately 4% from fiscal 2011, which should gradually improve market pricing conditions. Current futures prices indicate higher grain costs in fiscal 2012 compared to fiscal 2011, which the company expects to offset with operational, pricing and mix improvements.
About 127,000 pounds of Tyson products recalled because of undeclared allergen and misbranding
If approved, trade restriction could take effect within next several weeks, report states
OSI Group’s China operations will now operate under OSI International, instead of as its own entity
CMS Technology, University of Georgia are working together on poultry secondary processing research project with aim of achieving improved pathogen control and food safety
Utilizing Poultry industry waste to create energy can improve the industry's energy efficiency and improve competitiveness all while reducing grain cost. Modern Technology Methods has the application to achieve this with their poultry anaerobic digester system.
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