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Hudson Foods, Inc.

HUDSON FOODS, INC.

Announces Second Quarter Results

ROGERS, April 22, 1991 -- Net income for the second quarter was .5 million or 4 cents, in primary earnings, per share. This compares with last year's second quarter net income of $2.1 million or 15 cents per share. Sales for the quarter climbed 17.6 percent to $171.7 million from $146.0 million one year ago.

For the first six months of fiscal 1991, profits were $1.4 million or 10 cents, in primary earnings, per share, compared with the year-earlier profits of $2.3 million or 16 cents per share. Sales increased 22.5 percent to $361.9 million from 1990's first half total of $295.4 million.

The Company's total poultry volume during the quarter rose to 160.1 million dressed pounds, representing 62.5 percent of sales. This compares with last year's second quarter total of 146.6 million dressed pounds, which represented 67.3 percent of sales.

James T. Hudson, chairman and chief executive officer, said, "Although second quarter broiler market prices averaged three cents per pound lower than last year's second quarter, these prices were profitable for the Company. However, turkey market prices also continued at the low levels seen in last year's second quarter, and this led to disappointing results from the turkey division."

Mr. Hudson concluded, "Continued high poultry industry production has kept prices low. But in recent weeks the broiler market has moved upward, offering some encouragement as we approach the summer."

Hudson Foods, Inc., one of the nation's largest poultry producers, sells a variety of chicken and turkey products under the "Hudson," "Flavor Fresh" and "Hudson Deli-Meister" brand names, as well as poultry, beef and pork products under the "Ohse," "Schweigert," "Pierre" and "Roegelein" brand names.
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Title Annotation:Public Company Corporate Reports
Publication:Arkansas Business
Date:May 6, 1991
Words:294
Previous Article:Simmons First National Corp.
Next Article:Murphy Oil Corp.


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