Sanderson Farms reports $15.8M Q1 profit

Higher margins, lower feed costs contribute to healthy rebound from year prior

Sanderson Farms reported a $15.8M profit on revenue of $420.1M in the first quarter of fiscal 2010, which ended January 31, according to The Wall Street Journal. That represents a rebound from a year-ago loss of $6.7M.

Thanks to higher margins, profits experienced significant growth even though total revenue increased only 0.8% from the first quarter of fiscal 2009. Gross margin in the first quarter of 2010 was 10%, compared with 1.3% a year earlier, in large part as a result of lower feed costs.

The most recent quarter’s profit is equivalent to $0.75 per share.

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