010463 Pilgrim's Pride Slips to Second Quarter Loss

Pittsburg, TX - Chicken and turkey producer Pilgrim's Pride Corp. reported a second quarter loss, hit by an oversupply of chicken in Mexico, bad weather and high energy costs.

The company posted a net loss of $9.8 million, or 24 cents per share, for the second fiscal quarter ended March 31, 2001, a $18.8 million decrease, compared to net income in the prior year's second quarter of $9 million, or 22 cents per share.

Pilgrim's Pride reported net sales of $541.6 million for the quarter, a 45.1% increase, compared to $373.3 million for the year ago period last year, with the increase resulting from the acquisition of WLR Foods Inc., effective in January.

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