Tyson Foods posts quarterly loss of $104 million

Springdale-based Tyson Foods Inc. posted a second-quarter net income loss of $104 million, a big drop from the $5 million loss posted in the second quarter of 2008.

Sales for the second quarter were $6.30 billion, down 0.4% from the same quarter in 2008. The second quarter included a $15 million charge to close the company’s plant in Ponca City, Okla.

For the first six months of Tyson Food’s fiscal year, the company has logged a net loss of $216 million, compared to a $29 net income in the same period of fiscal year 2008.

Tyson Foods interim President and CEO Leland Tollett said in the earnings statement he is “cautiously optimistic” going forward, despite the losses and the yet unknown impact on the company’s pork segment from the swine flu outbreak.

“Our multi-protein, multi-sales channel business model puts us in a good position should consumers change which proteins they buy or where they buy them. Protein demand usually picks up as we move into the summer grilling season, and we are cautiously optimistic despite current conditions,” Tollett noted in the earnings statement.

Tyson Foods segment info (six months of fiscal year 2009)
• Chicken
Q1 and Q2 fiscal 2009: $332 million operating loss, on $4.59 billion in sales
Q1 and Q2 fiscal 2008: $3 million operating gain, on $4.26 billion in sales

• Beef
Q1 and Q2 fiscal 2009: $28 million operating gain, on $5.08 billion in sales
Q1 and Q2 fiscal 2008: $62 million operating loss, on $5.58 billion in sales

• Pork
Q1 and Q2 fiscal 2009: $84 million operating gain, on $1.72 billion in sales
Q1 and Q2 fiscal 2008: $148 million operating gain, on $1.66 billion in sales

• Prepared foods
Q1 and Q2 fiscal 2009: $3 million operating loss, on $1.43 billion in sales
Q1 and Q2 fiscal 2008: $0 operating gain, on $1.31 billion in sales