Sanderson Farms reports results for first quarter of fiscal 2014
Sanderson Farms Inc. reported results for the first quarter of fiscal 2014 ended January 31, 2014. Net sales for the first quarter of fiscal 2014 were $584.9 million compared with $595.8 million for the same period a year ago. For the quarter, the company reported net income of $28.9 million, or $1.25 per share, compared with a net loss of $6.9 million, or $0.31 per share, for the first quarter of fiscal 2013.
The company also announced that its Board of Directors has extended to February 24, 2017, its stock repurchase program approved February 16, 2012, to repurchase up to 1.0 million shares from time to time at prevailing prices in open market transactions or in negotiated purchases, subject to market conditions, share price and other considerations.