SOURCE: Industrial Info Resources
November 12, 2008 08:30 ET
Higher Commodity Prices Take a Bite out of Tyson Foods' 2008 Earnings, an Industrial Info News Alert
SUGAR LAND, TX--(Marketwire - November 12, 2008) - Researched by Industrial Info Resources
(Sugar Land, Texas) -- Tyson Foods Incorporated (NYSE:TSN) (Springdale,
Arkansas) announced its fourth-quarter and fiscal year 2008 earnings on
Monday, November 10. The company showed a quarterly net income of $48
million, compared with $32 million in 4Q07. The company's net income for
the fiscal year was $86 million, compared with $268 million in the 2007
fiscal year. For the year, operating margins of Tyson's Chicken segment
produced a loss of $118 million, compared with a gain of $325 million in
fiscal year 2007, down 136.3% from last year. Tyson pointed to higher grain
costs, which rose almost $600 million for the year, as the principal cause
of the decline in the operating income for the segment.
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