Tyson posts second quarter loss

SPRINGDALE, Ark. (AP) _ Springdale-based Tyson Foods, the world's largest meat processor, on Monday announced it lost 127 (m) million dollars in its second quarter. The company says oversupply in its

Monday, May 1st 2006, 10:13 am

By: News On 6

SPRINGDALE, Ark. (AP) _ Springdale-based Tyson Foods, the world's largest meat processor, on Monday announced it lost 127 (m) million dollars in its second quarter. The company says oversupply in its beef, chicken and pork operations and charges for previously-disclosed plant closings led to the big loss.

Tyson chairman and chief executive John Tyson says the results reflect depressed markets and the oversupply of all proteins.

The loss amounted to 37 cents a share for the three months ended April First and contrasted with a profit of 76 (m) million dollars, or 21 cents a share, a year ago.

Analysts surveyed by Thomson Financial had forecast that Tyson would lose 26 cents per share, matching what was reported excluding the charges.