001226 Sanderson Farms 4th-Quarter Profit JumpsDecember 11, 2000New York - Frozen chicken and prepared food producer Sanderson Farms Inc. said its fiscal fourth-quarter profit surged more than six-fold from a year ago, reflecting higher sales and pounds of poultry products sold. The Laurel, Miss.-based company reported that net income for the period ended Oct. 31 rose to $6 million, or 44 cents per diluted share, from $975,000, or 8 cents per diluted share in the year-ago period. Net sales increased 14.3% to $170.7 million from a year earlier. President and Chief Executive Officer Joe F. Sanderson Jr. said that an oversupply of chicken and other meats had a significant impact on the company's margins in fiscal 2000, and would continue to hurt the company's profits through the first fiscal quarter.
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