Higher Commodity Prices Take a Bite Out of Tyson Foods’ 2008 Earnings, an Industrial Info News Alert
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.
For details, view the entire article by subscribing to Industrial Info’s Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=141022, or browse other breaking industrial news stories at www.industrialinfo.com.
Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information send inquiries to email@example.com or visit us at www.industrialinfo.com.
Related News Articles
Site Preparation Under Way to Expand Colorado Milk-Processing Facility
Coca-Cola Increases Earnings Through Strong International Sales
Ocean Spray Starts Production at New Expanded Plant in Wisconsin
Contact: Joe Govreau 713-783-5147
SOURCE: Industrial Info Resources