Meat + Poultry - December 2004 - 12

Gold Kist announces "transitional" results
Gold Kist, Inc., Atlanta, reported its financial results
for the quarter ended Oct. 2, 2004. The quarter is
transitional in connection with Gold Kist's previously announced change in its fiscal year-end from the
Saturday following the last Thursday in June to the
Saturday following the last Thursday in September.
For the quarter, net income increased 45 percent
to $34 million from net income of $23.5 million for the
quarter ended Sept. 27, 2003. Net sales for the quarter were $646.5 million, compared with $516.7 million for the year-earlier period.
"The 25.1 percent increase in net sales for the
quarter was due primarily to an approximate 10.6
percent increase in average broiler prices and an
approximate 13.3 percent increase in broiler pounds produced,"
said John Bekkers, president and C.E.O. "The extra week in the

period contributed the majority of the increase in broiler pounds sold. Demand remained healthy due to an overall strengthening in the economy, favorable production levels, improved export demand, higher prices
in the beef and pork meat sectors and a continuation of diet trends emphasizing low fat
proteins such as chicken.
"New product introductions in fast-food
and quick-service restaurants have also had
a positive impact on demand. For the quarter
ended Oct. 2, 2004, broiler prices were 9.1
percent below prices for the quarter ended
June 26, 2004, due to increased supply. We
expect this trend to continue at least through the next fiscal quarter
ending Jan.1, 2005."

Hispanic convenience segment
offers opportunity

Trim-Rite planning to build pork
plant

From 1999 through 2004, sales of mainstream Mexican and authentic Hispanic convenience foods - such as entrées and hand-held
items - have grown 103 percent, according to The U.S. Market for
Hispanic Foods and Beverages, a new market research report from
publisher Packaged Facts,
New York, N.Y. Sales grew
from just under $250 million in 1999 to $505 million
in 2004.
Ongoing demands for
convenience and portability
among American consumers and shifting tastes toward
bolder flavors are fueling
growth. And, as U.S. Hispanics become more acculturated, they, too, are looking for
ways to ease the daily burden of meal preparation. Dinner kits, single-serve beverages, and frozen foods are just some of
the convenience products that are meeting demand in this segment
of the $4.3 billion Hispanic food and beverage market.
"Hispanic on the run - from pseudo Mexican creations such as
breakfast burritos to more authentic items such as Salvadoran papusas - appeals to our changing national taste buds, populace and demand for convenience," said Don Montuori, acquisitions editor for Packaged Facts. "If you consider the fact that nearly 90 percent of 'tweens'
told researchers that quesadillas are an 'everyday food,' it's no wonder
that Hispanic cuisine is poised to eclipse Chinese as the favorite foreign food for Americans."

With a 60-year history as a pork processor in Carpentersville, Ill., officials with Trim-Rite, Inc., have announced plans to build a $9.5-million slaughtering facility nearby, with a daily capacity of 2,000 hogs.
Operators plan to purchase
local hogs, which is good
news to area producers,
most of whom ship their animals to Hormel's Austin, Minn., plant for processing.
Outside of saying the plant would be located in Winnebago County, the location is being kept a secret until the land purchase becomes official. Construction is expected to begin this summer and
the plant could be completed as soon as spring 2006.

MEAT&POULTRY

ConAgra Foods appoints new
C.F.O.
Omaha-based ConAgra Foods, Inc.,
announced the appointment of Frank
Sklarsky as its C.F.O. and executive
vice president effective Dec. 1. Sklarsky's financial management experience spans 20 years, having most
recently worked as vice president of
corporate financial control with DaimlerChrysler A.G.
ConAgra had been seeking to fill the
position since this past April, after its
former C.F.O. Jim O'Donnell, announced his retirement. Sklarsky will
report to Jim Rohde, C.E.O.

www.MEATPOULTRY.com

DECEMBER 2004

http://www.MEATPOULTRY.com

Meat + Poultry - December 2004

Table of Contents for the Digital Edition of Meat + Poultry - December 2004