November 10, 2005

Pilgrim's Pride reports record net income and sales for FY2005

US poultry processing giant Pilgrim's Pride reported a record net income of US$265 million and a record net sales of US$5.67 billion, an increase of US$302.6 million from last year.

For its 2005 Q4, the company also reported a net income of US$74.7 million, a rise of US$9.1 million from last year, and net sales of US$1.483 billion, a slight fall from US$1.486 billion for the same period last year.

The income for the last year included a non-recurring gain of US$7.5 million net of tax associated with a litigation settlement, and recoveries on the previous year's turkey restructuring charges of US$3.3 million, resulting in adjusted earnings for 2005 at US$254.2 million, an increase of US$97.0 million.