Tyson Foods tallies quarterly, annual results

Tyson Foods, Inc reported fiscal fourth-quarter 2002 sales of $5.8 billion, compared with $5.0 billion in 2001. Operating income was $188 million compared with $167 million in the same quarter last year with operating margin at 3.3% for both periods. Chicken segment operating margin was 4.0% for the current quarter and 5.2% for the same quarter last year. Beef, pork, and prepared foods segments operating margins (loss) were 3.6%, 4.1%, and 5.3%, respectively.

Earnings for the fourth quarter of fiscal 2002 were $84 million compared with $48 million for the same period of 2001. The increase in sales, operating income, and earnings was affected by the acquisition of IBP inc in the fourth quarter of fiscal 2001.

Sales for the 12 months of fiscal 2002 were $23.4 billion compared to $10.6 billion in 2001. Operating income was $887 million compared to $316 million for the same period last year with operating margin at 3.8% compared with 3.0% last year. Chicken segment operating margin was 5.9 percent for the 12 month period and 3.6 percent for the same period last year. Beef, pork, and prepared foods segments operating margins were 2.1%, 1.0%, and 5.2%, respectively.

Earnings for the 12 months of fiscal 2002 were $383 million compared with $88 million for the same period last year. The increase in sales, operating income, and earnings was affected by the acquisition of IBP in the fourth quarter of fiscal 2001.

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