The company said in a statement that net sales for the second quarter of fiscal 2008 were $433.9 million compared with $360.5 million for the same period a year ago. For the quarter, net income was $6.2 million, or $0.30 per share, compared with net income of $26.9 million, or $1.33 per share, for the second quarter of fiscal 2007.
Joe Sanderson Jr., chairman and CEO, said that the results were affected by feed grain costs, which have risen sharply in the past year and are expected to remain high through fiscal 2009. Market prices for poultry products were also mixed.
“Despite these higher costs, we continue to focus on improving the efficiency with which we operate, and the number of pounds we have to leverage into the market to absorb these costs,” Sanderson said. “Overall, we are pleased with the solid performance of our operations in a difficult environment.”