Sanderson Farms reports second quarter results

Sales, income up for the quarter and six month period

Sanderson Farms Inc. reported net sales were $487.1 million for its second fiscal quarter ended April 30, compared to $426.8 million for the same period in 2009, while quarterly net income was $35.1 million, or $1.62 per fully diluted share, compared with $26.2 million, or $1.25 per fully diluted share.

Net sales for the first six months were $907.2 million up from $815.6 million for the first half of fiscal 2009, and net income for the period was $50.9 million, or $2.39 per fully diluted share, compared with net income of $19.5 million, or $0.93 per fully diluted share last year.

The company said demand for retail chicken remains strong, but food service customers continue to be affected by the economic downturn with fewer people eating away from home. Market prices for poultry products were mixed during the second quarter this year, as the price for whole chickens decreased an average of 2%.

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