Darling International sees second quarter net income growth
Net income reported at $52.2 million, up from $11.4 million in 2010
Darling International Inc., which makes protein meals that can be used as nutritional additives for the animal feed industry, reported a net income of $52.2 million for the second quarter of 2011 ended July 2, up from $11.4 million in 2010.
For the same period in 2011, the company reported net sales of $470.6 million as compared to $166.2 million for the second quarter of 2010. The increases in net income and net sales were primarily attributed to the company's acquisition of Griffin Industries on Dec. 17, 2010, and higher selling prices for the company's finished products.
For the six-month period ended July 2, the company's net income was $98.8 million in 2011, an increase of $76 million over $22.8 million in 2010. The company's net sales rose from $329 million in the first six momths of 2010 to $910.5 million in 2011.