Arkansas Business
Arkansas firms post quarterly earnings
By ROBY BROCK
Several Arkansas companies posted their quarterly earnings last week: Tyson Foods - For the first time in a year, Tyson Foods posted a quarterly profit. The Springdalebased protein giant recorded net income of $57 million in its first quarter, up 46 percent over last year's comparable period.
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SPRINGDALE, Arkansas: Tyson Foods Inc. Chairman John Tyson told shareholders Friday the world's largest meat producer is getting back on track after posting its first quarterly profit in a year with the help of a cost-cutting program and higher chicken sales.
"We've taken steps in the right direction and our business is getting back on track," the chairman told shareholders at the company's headquarters, according to a Tyson statement.
After three consecutive quarters of losses last year, Tyson reported Monday that it earned $57 million (€43.78 million), or 16 cents per share, in its fiscal first quarter that ended Dec. 30, up 46 percent from a year earlier.
The company expects to remain profitable for the rest of fiscal 2006 as it pursues a program to cut about $200 million (€153.61 million) in annual costs and develops more profitable consumer products with the help of a new food laboratory at its headquarters.
The roughly half-hour meeting voted by just under 95 percent to reject a shareholder proposal from animal rights campaign group PETA aimed at changing the way Tyson slaughters about 2 billion chickens a year.
A PETA representative read the proposal, which called on Tyson to conduct a feasibility study on switching to knock-out gas from electrical stunning.
Tyson has said it is researching the use of gas instead of electricity to stun birds before slaughter but has not yet found it to be more humane. In October it said it would continue research on gas stunning and other technologies and has asked the University of Arkansas to conduct similar research.
However, the PETA proposal suggests using nontoxic gas to kill birds rather than just stun them before they go through slaughter and processing. PETA said the method, called controlled-atmosphere killing, is approved by the U.S. Department of Agriculture and is more humane.
Tyson shares rose 24 cents, or 1.34 percent, to close at $18.12 on the New York Stock
Arkansas firms post quarterly earnings
By ROBY BROCK
Several Arkansas companies posted their quarterly earnings last week: Tyson Foods - For the first time in a year, Tyson Foods posted a quarterly profit. The Springdalebased protein giant recorded net income of $57 million in its first quarter, up 46 percent over last year's comparable period.
**********************************************************
SPRINGDALE, Arkansas: Tyson Foods Inc. Chairman John Tyson told shareholders Friday the world's largest meat producer is getting back on track after posting its first quarterly profit in a year with the help of a cost-cutting program and higher chicken sales.
"We've taken steps in the right direction and our business is getting back on track," the chairman told shareholders at the company's headquarters, according to a Tyson statement.
After three consecutive quarters of losses last year, Tyson reported Monday that it earned $57 million (€43.78 million), or 16 cents per share, in its fiscal first quarter that ended Dec. 30, up 46 percent from a year earlier.
The company expects to remain profitable for the rest of fiscal 2006 as it pursues a program to cut about $200 million (€153.61 million) in annual costs and develops more profitable consumer products with the help of a new food laboratory at its headquarters.
The roughly half-hour meeting voted by just under 95 percent to reject a shareholder proposal from animal rights campaign group PETA aimed at changing the way Tyson slaughters about 2 billion chickens a year.
A PETA representative read the proposal, which called on Tyson to conduct a feasibility study on switching to knock-out gas from electrical stunning.
Tyson has said it is researching the use of gas instead of electricity to stun birds before slaughter but has not yet found it to be more humane. In October it said it would continue research on gas stunning and other technologies and has asked the University of Arkansas to conduct similar research.
However, the PETA proposal suggests using nontoxic gas to kill birds rather than just stun them before they go through slaughter and processing. PETA said the method, called controlled-atmosphere killing, is approved by the U.S. Department of Agriculture and is more humane.
Tyson shares rose 24 cents, or 1.34 percent, to close at $18.12 on the New York Stock