Tyson Foods 4Q Net Income Up 91 Percent, Annual Sales A Record

by Lance Turner  on Monday, Nov. 19, 2012 7:11 am  

Tyson Foods Inc. CEO Donnie Smith: "Our team members didn't make excuses; they made a difference, and they made money."

"Our accomplishments, reinvestment in our business and record sales in fiscal 2012 were achieved in difficult market conditions," Smith said. "Fiscal 2013 is likely to be equally if not more difficult, but there will always be challenging circumstances in this business. It's our job to accelerate growth by focusing on innovation, serving our customers and developing our team members, whatever the market conditions may be."

In all, Tyson Foods said it expects fiscal 2013 sales to increase to about $35 billion, mostly due to price increases related to decreases in domestic protein availablilty and rising raw material costs, including feed grain costs.

More

Click here to read the conference call transcript from Tyson executives' meeting with analysts.

 

 

Please read our comments policy before commenting.