USA: Pilgrim’s Pride posts US$10m fall in Q1 net income
US poultry producer Pilgrim's Pride has reported a net income of US$2.8m for the first fiscal quarter ended 28 December 2002, a fall of $10.2m compared to the previous year The company's net sales for the first quarter were $627.4 million, a $28.6 million decrease compared to $656.0m for the same period last year. The first fiscal quarter results reflect a $0.22 per share gain, net of tax, associated with a payment by the federal government on their avian influenza relief plan for turkey producers and a $0.02 per share gain, net of tax, partial payment from a vitamin lawsuit settlement on a suit filed by the company.
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