The company’s net income for the quarter was $27.4 million, down from a net income of $93.1 million during the fourth quarter of fiscal year 2014. For the year, Sanderson Farms’ net income dropped from $249 million to $216 million.
Net sales for the company were also down, hitting $679.6 million in the fourth quarter, a drop from the $760.9 million in net sales for the fourth quarter of 2014. For the year, however, net sales were up to a record $2.803 billion. The company’s net sales for fiscal year 2014 were $2.775 billion.
"While conditions during the fourth quarter of fiscal 2015 deteriorated in the big bird deboning market, the quarter marked the end of another successful year for
According to Sanderson, overall market prices for poultry products were significantly lower in the fourth quarter of fiscal 2015 compared with prices a year ago. As measured by an average of the
Sanderson added that its profitability during the fiscal year allowed the company to fund its planned expansion in
"We are well positioned to continue our growth strategy as we continue to move our new poultry complex in