National Beef Packing reports smaller 2Q loss

US - National Beef Packing Co. LLC, the nation's fourth-largest beef processor, said Thursday it cut its second-quarter loss on higher sales generated by the purchase last year of Brawley Beef LLC.
calendar icon 6 April 2007
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In a securities filing, the Kansas City-based company said it lost $2 million for the 13 weeks ending Feb. 24 compared with a loss of $13.6 million during the same period a year ago.

Revenue for the quarter rose 21.6 percent from $1.08 billion a year ago to $1.3 billion this year. Costs also rose 20 percent but the company reported higher profit margins because of more efficient use of its plants and a slight drop in cattle prices.

The company said it processed 25 percent more cattle during the quarter than the year-ago period, which it credited to the Brawley acquisition and a slight increase in consumer demand for beef.

Halfway through its fiscal year, National Beef said its net loss has risen 5.4 percent to $25 million while sales have increased 19 percent to $2.6 billion.

Source: Belleville News-Democrat
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