Tyson Foods reports 2nd fiscal quarter losses

Tyson Foods Inc. (NYSE: TSN), an American multinational corporation, announced Monday that its net loss constituted $5 million, or two cents a share, for the period ended March 29. The loss in the beef unit was $11 million on an operating basis.

The company's low second-fiscal-quarter results are partially resulted from labor shortages and a tight cattle supply at its beef plant in Alberta, Canada, and largely to charges related to restructuring operations at a Kansas plant.

The company is the world's largest processor and marketer of chicken, beef, and pork, and annually exports the largest percentage of beef out of the United States. It makes a wide variety of protein-based and prepared food products at its 123 food processing plants.

Its beef plant in Alberta has about 2,200 employees. In excess of 200 positions are open, which the company is trying to fill. The plant has the capacity to slaughter 4,000 cattle per day.

Photo: www.upc-online.org

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