Sanderson Farms reports Q3 profit

Wed. August 26, 2009; Posted: 09:32 AM

Aug 26, 2009 (Datamonitor via COMTEX) -- SAFM | Quote | Chart | News | PowerRating -- Sanderson Farms, a producer of fresh and frozen chicken, has reported a net income of $43 million or $2.09 per diluted share in the third quarter of fiscal 2009, compared to a net loss of $3.6 million or $0.18 per diluted share in the third quarter of fiscal 2008.

The company's net sales for the third quarter of fiscal 2009 were $504.8 million, compared to $466.9 million in the same quarter of fiscal 2008.

For the nine months ended July 31, 2009, the company has reported a net income of $62.5 million or $3.04 per diluted share, compared to $8.8 million or $0.43 per diluted share in the same period of fiscal 2008.

Net sales for the first nine months of fiscal 2009 were $1.32 billion, compared to $1.26 billion for the first nine months of fiscal 2008.

Joe Sanderson Jr, chairman and CEO of Sanderson Farms, said: "Our results for the third quarter of fiscal 2009 reflect much improved market conditions for our Company and our industry when compared to last year. The combination of lower costs and improved market conditions resulted in much higher margins for the quarter, and we are pleased with our performance."

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For full details on Sanderson Farms Inc (SAFM) click here. Sanderson Farms Inc (SAFM) has Short Term PowerRatings of 4. Details on Sanderson Farms Inc (SAFM) Short Term PowerRatings is available at This Link.

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