November 12, 2008
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.
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SOURCE: Industrial Info Resources