Chicken demand does Pilgrim's Pride proud

Pittsburg TX-based PilgrimÕs Pride Corp, the nation's second-largest poultry producer, has reported net income of $10.3 million for the first fiscal quarter ended Jan 3, 2004. This is an increase of $7.5 million compared with net income of $2.8 million in the first quarter of fiscal 2003.

The company also reported record net sales for the first quarter of fiscal 2004 of $1.0 billion, a $417.0 million advance compared with net sales of $627.4 million for the same period a year earlier.

"Our very successful first-quarter performance reflects an improvement in the pricing environment in the United States for chicken and our rapid progress integrating the chicken division we acquired from ConAgra Foods Inc in late November 2003," said O B Goolsby, president and chief operating officer of Pilgrim's Pride.