Rendering waste recycler and animal feed ingredient supplier Darling International Inc. reported a net income of $44.2 million in 2010, up $2.4 million from 2009's $41.8 million.
The increase in net income for fiscal 2010 resulted primarily from higher finished product prices and increased raw material volume, according to the company, but was partially offset by increased transaction expenses related to the $13.7 million acquisition of Griffin Industries in December.
The fourth quarter of 2010 was also profitable for Darling, with a reported net income of $10 million as compared to 2009's $9.2 million. The $800,000 increase resulted primarily from higher finished product prices, increased raw material volume and increased earnings from Griffin.
