Pilgrim's Pride reports $33.6M Q1 profit

Dramatic turnaround after bankruptcy

Pilgrim's Pride Corp. has reported a profit of $33.6M on $1.6B in revenue for its first fiscal-year quarter ending December 27, 2009, a dramatic change from the same period a year earlier, when it lost $228.8M.

Shares were up $0.44, according to Reuters news agency. Pilgrim’s Pride recently escaped bankruptcy by selling a majority stake in the company to international meat conglomerate JBS SA.

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