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PILGRIM'S PRIDE CORPORATION REPORTS FIRST QUARTER RESULTS

 PILGRIM'S PRIDE CORPORATION REPORTS FIRST QUARTER RESULTS
 PITTSBURG, Texas, Jan. 21 /PRNewswire/ -- Pilgrim's Pride Corporation (NYSE: CHX), an East-Texas based chicken firm, today reported a 5.2 percent increase in net sales to $195.5 million for the first quarter of fiscal 1992. The company had a net loss of $4.2 million for the quarter, or $.19 per share compared with net income of $1.1 million, or $.05 per share for the first quarter of fiscal 1991.
 According to Lonnie A. "Bo" Pilgrim, chairman and chief executive officer, "The increased sales volumes were made possible by capital expenditures made during 1990 and 1991 to expand and improve production facilities company-widinder of the fiscal year due to improvements in production efficiencies."
 Pilgrim's Pride Corporation is the fifth largest producer of poultry products and the 18th largest egg producer in the United States, producing more than 1.1 billion pounds of dressed poultry and 41 million dozen table eggs annually. Pilgrim's Pride employs more than 10,500 persons internationally and operates processing plants, distribution centers, hatcheries and feed mills in Texas, Arkansas, Arizona, Oklahoma and Mexico.
 Products are sold under the "Pilgrim's Pride" label to supermarkets, fast food chains and food service customers. The company's primary domestic distribution is through retailers and fast food outlets in Central, Southwestern and Western United States and through the food service industry nationally.
 PILGRIM'S PRIDE CORPORATION
 (Unaudited)
 First quarter
 13 weeks ended 12/28/91 12/29/90
 Net sales $195,491,000 $185,760,000
 Net income (4,193,000) 1,101,000
 Net income (loss) per share ($.19) $.05
 Average shares outstanding 22,589,250 22,589,250
 -0- 1/21/92
 /CONTACT: Cliff Butler, chief financial officer of Pilgrim's Pride, 903-856-7901/
 (CHX) CO: Pilgrim's Pride Corporation ST: Texas IN: FOD SU: ERN


TS -- NY061 -- 1801 01/21/92 11:53 EST
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Publication:PR Newswire
Date:Jan 21, 1992
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