Tyson Foods: Third Quarter Profits Rise

Aug 06, 2013

By Amanda Brodhagen, Farms.com

Tyson Foods Inc., the largest U.S. meat processor, reported on its third-quarter profit earnings.

The company reported better than expected quarterly earnings – with net income of $248-million, or 69-cents per share, from 79-million, or 22-cents per share last year in the same quarter. Tyson attributes strong chicken sales for its rise in profits. “Our chicken segment achieved record operating income, and our beef segment rebounded to generate solid returns,” explains Donnie Smith, Tyson’s CEO.

Chicken sales increased 10.6 percent to $3.16-billion, in addition to Tyson’s chicken segment of the business, beef sales were also strong, reporting 6.8% increase to $3.72-billion, while pork saw a slight decline in sales.

Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.