EX-99.2 4 d07620exv99w2.htm EX-99.2 SUPPLEMENTAL HISTORICAL FINANCIAL INFO exv99w2
 

EXHIBIT 99.2

Pilgrim’s Pride Corporation
Selected Financial Data
for quarters ended:

Our selected financial data is derived from our financial statements. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and “Management’s Discussion and Analysis of Results of Operations and Financial Condition” included in our SEC filings.
                                                                               
                                                  Quarters Ended
                                                 
          06/28/03   03/29/03   12/28/02   09/28/02   06/29/02   03/30/02   12/29/01   09/29/01   06/30/01
         
 
 
 
 
 
 
 
 
          (in thousands except per share data)
Income Statement Data:
                                                                    *  
Net sales
  $ 651,877     $ 630,592     $ 627,405     $ 639,819     $ 637,116     $ 600,753     $ 656,030     $ 641,251     $ 645,836  
Gross margin
    50,945       25,672       27,999       31,605       46,309       28,631       57,865       61,943       74,476  
Selling, general and administrative expenses
    35,107       35,576       32,045       35,069       32,654       33,003       34,535       30,826       30,139  
Non-recurring recoveries
    (10,302 )     (11,324 )     (14,387 )     (65 )     (691 )                       (1,149 )
Operating income (loss)
    26,140       1,409       10,341       (3,100 )     14,045       (4,371 )     23,330       31,117       44,337  
Interest expense, net
    9,417       9,942       9,476       7,137       9,031       7,261       8,573       9,536       10,014  
Miscellaneous, net
    (8,124 )     (29,896 )     (1,766 )     (2,580 )     (3,378 )     873       (387 )     (997 )     1,751  
Income (loss) before income taxes and extraordinary charge
    25,181       18,146       2,981       (8,146 )     6,525       (11,055 )     15,679       22,017       34,323  
Income tax expense (benefit)
    7,740       7,381       225       (4,973 )     3,259       (13,399 )     2,688       8,188       9,056  
Income (loss) before extraordinary charge
    17,441       10,765       2,756       (4,972 )     3,266       1,252       12,991       13,829       25,267  
Extraordinary charge — net of tax
                                              (894 )      
Net income (loss)
  $ 17,441     $ 10,765     $ 2,756     $ (3,174 )   $ 3,266     $ 1,252     $ 12,991       12,935     $ 25,267  
Per Common Share Data:(c)
                                                                       
Income (loss) before extraordinary charge
  $ 0.42     $ 0.26     $ 0.07     $ (0.08 )   $ 0.08     $ 0.03     $ 0.32     $ 0.34     $ 0.61  
Extraordinary charge — early repayment of debt
                                      $     $ (0.02 )   $  
Net Income (loss)
  $ 0.42     $ 0.26     $ 0.07     $ (0.08 )   $ 0.08     $ 0.03     $ 0.32     $ 0.32     $ 0.61  
Cash dividends
  $ 0.015     $ 0.015     $ 0.015     $ 0.015     $ 0.015     $ 0.015     $ 0.015     $ 0.015     $ 0.015  
Book value
  $ 10.27     $ 9.86     $ 9.61     $ 9.57     $ 9.68     $ 9.57     $ 9.53     $ 9.27     $ 8.96  
Balance Sheet Summary:
                                                                       
Working capital
  $ 267,844     $ 250,893     $ 171,582     $ 179,171     $ 157,980     $ 149,869     $ 143,360     $ 203,350     $ 177,194  
Total assets
  $ 1,278,920     $ 1,259,111     $ 1,219,911     $ 1,221,418     $ 1,218,365     $ 1,195,552     $ 1,153,438     $ 1,215,695     $ 1,204,820  
Notes payable and current maturities of long-term debt
  $ 2,635     $ 4,272     $ 3,525     $ 4,665     $ 63,210     $ 60,126     $ 5,177     $ 5,099     $ 59,022  
Long-term debt, less current maturities
  $ 480,150     $ 491,825     $ 434,103     $ 448,979     $ 418,064     $ 410,628     $ 396,975     $ 467,242     $ 444,125  
Total debt
  $ 482,785     $ 496,096     $ 437,628     $ 453,644     $ 481,274     $ 470,754     $ 402,152     $ 472,341     $ 503,147  
Senior secured debt (included in Total Debt)
  $ 282,785     $ 296,096     $ 237,628     $ 253,644     $ 281,274     $ 270,754     $ 202,152     $ 272,341     $ 412,540  
Total stockholders’ equity
  $ 422,189     $ 405,330     $ 395,115     $ 393,470     $ 397,910     $ 393,641     $ 391,644     $ 380,932     $ 368,479  
Cash Flow Summary:
                                                                       
Operating cash flow
  $ 30,693     $ (56,617 )   $ 40,617     $ 60,789     $ 15,704     $ (58,711 )   $ 81,773     $ 70,581     $ 48,738  
Depreciation & amortization(d)
  $ 18,940     $ 17,803     $ 17,510     $ 18,114     $ 17,813     $ 17,647     $ 17,399     $ 15,962     $ 18,608  
Capital expenditures
  $ 11,122     $ 15,907     $ 9,116     $ 23,958     $ 24,199     $ 14,898     $ 17,333     $ (7,615 )   $ 59,847  
Business acquisitions
  $     $     $     $     $     $     $     $     $  
Financing activities, net
  $ (13,931 )   $ 57,852     $ (16,637 )   $ (28,240 )   $ 9,900     $ 68,015     $ (6,518 )   $ (31,646 )   $ (21,804 )
Cashflow Ratios:
                                                                       
EBITDA(e)
  $ 53,232     $ 45,508     $ 29,594     $ 16,736     $ 33,012     $ 12,415     $ 41,305     $ 46,410     $ 62,664  
EBITDA (last four qtrs.)
  $ 145,070     $ 124,850     $ 91,757     $ 103,468     $ 133,142     $ 162,794     $ 157,231     $ 147,599     $ 126,209  
Key Indicators (as a percentage of net sales):
                                                                       
Gross margin
    7.8 %     4.1 %     4.5 %     4.9 %     7.3 %     4.8 %     8.8 %     9.7 %     11.5 %
Selling, general and administrative expenses
    5.4 %     5.6 %     5.1 %     5.4 %     5.1 %     5.5 %     5.3 %     4.8 %     4.7 %
Operating income (loss)
    4.0 %     0.2 %     1.6 %     -0.5 %     2.2 %     -0.7 %     3.6 %     4.9 %     7.0 %
Interest expense, net
    1.4 %     1.6 %     1.5 %     1.1 %     1.4 %     1.2 %     1.3 %     1.5 %     1.6 %
Net income (loss)
    2.7 %     1.7 %     0.4 %     -0.5 %     0.5 %     0.2 %     2.0 %     2.0 %     3.9 %
(a)  The Company acquired WLR Foods on January 27, 2001 for $239.5 million and the assumption of $45.5 million of indebtedness. The acquisition has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since the acquisition date                                                                        
(b) Fiscal quarter ended January 1, 1999 had 14 weeks                                                                        
(c) Historical per share amounts represent both basic and diluted and have been restated to give effect to a stock dividend issued on July 30, 1999 See Note F of the Consolidated Financial Statements of the Company included in our Annual Report on Form 10-K filed in year 2001                                                                        
(d) Includes amortization of capitalized financing costs of approximately   $ 307       383       372       369       357       346     $ 346     $ 1,105     $ 281  
(e) “EBITDA” is defined as the sum of net income (loss) before extraordinary charges, interest, taxes, depreciation and amortization. EBITDA is presented because it is used by us, and we believe it is frequently used by securities analysts, investors and other interested parties, in addition to and not in lieu of GAAP results, to compare the performance of companies. EBITDA is not a measurement of financial performance under generally accepted accounting principles and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net income as indicators of our operating performance or any other measures of performance derived in accordance with generally accepted accounting principles. EBITDA is calculated as follows:                                                                        
 
Net Income
  $ 17,441     $ 10,765     $ 2,756     $ (3,174 )   $ 3,266     $ 1,252     $ 12,991     $ 12,935     $ 25,267  
   
Add:
                                                                       
     
Extraordinary charge-net of tax
                                              (894 )      
     
Income Tax Expense (benefit)
    7,740       7,381       225       (4,973 )     3,259       (13,399 )     2,688       8,188       9,056  
     
Interest expense, net
    9,417       9,942       9,476       7,137       9,031       7,261       8,573       9,536       10,014  
     
Depreciation and amortization
    18,940       17,803       17,510       18,114       17,813       17,647       17,399       15,962       18,608  
   
Minus:
                                                                       
     
Amortization of capitalized financing costs
    307       383       372       369       357       346       346       1,105       281  
 
   
     
     
     
     
     
     
     
     
 
 
EBITDA
  $ 53,232     $ 45,508     $ 29,594     $ 16,736     $ 33,012     $ 12,415     $ 41,305     $ 46,410     $ 62,664  

[Additional columns below]

[Continued from above table, first column(s) repeated]
                                                                               
          Quarters Ended
         
          03/31/01(a)   12/30/00   09/30/00   07/01/00   04/01/00   01/01/00   10/02/99   07/03/99   04/03/99
         
 
 
 
 
 
 
 
 
          (in thousands except per share data)
Income Statement Data:
    *       *               *       *       *               *       *  
Net sales
  $ 541,593     $ 386,032     $ 379,375     $ 391,979     $ 373,260     $ 354,825     $ 317,261     $ 344,160     $ 329,894  
Gross margin
    29,216       44,971       39,657       46,665       34,029       45,477       46,130       49,415       46,262  
Selling, general and administrative expenses
    34,488       23,955       24,022       20,316       20,747       20,255       17,316       20,203       20,970  
Non-recurring recoveries
          (2,195 )                                          
Operating income (loss)
    (5,272 )     23,211       15,635       26,349       13,282       25,222       28,814       29,212       25,292  
Interest expense, net
    7,085       4,140       4,210       4,967       4,699       3,903       4,535       4,308       4,090  
Miscellaneous, net
    (281 )     (122 )     327       465       (519 )     (198 )     1,348       (191 )     (261 )
Income (loss) before income taxes and extraordinary charge
    (12,118 )     19,072       11,782       20,319       9,178       21,507       22,549       25,274       21,624  
Income tax expense (benefit)
    (2,316 )     6,335       463       3,175       155       6,649       6,113       6,957       7,044  
Income (loss) before extraordinary charge
    (9,802 )     12,737       11,319       17,144       9,023       14,858       16,436       18,317       14,580  
Extraordinary charge — net of tax
                                                     
Net income (loss)
  $ (9,802 )   $ 12,737     $ 11,319     $ 17,144     $ 9,023     $ 14,858       16,436     $ 18,317     $ 14,580  
Per Common Share Data:(c)
                                                                       
Income (loss) before extraordinary charge
  $ (0.24 )   $ 0.31     $ 0.28     $ 0.41     $ 0.22     $ 0.36     $ 0.41     $ 0.44     $ 0.35  
Extraordinary charge — early repayment of debt
  $     $     $     $     $     $     $     $     $  
Net Income (loss)
  $ (0.24 )   $ 0.31     $ 0.28     $ 0.41     $ 0.22     $ 0.36     $ 0.41     $ 0.44     $ 0.35  
Cash dividends
  $ 0.015     $ 0.015     $ 0.015     $ 0.015     $ 0.015     $ 0.015     $ 0.015     $ 0.010     $ 0.010  
Book value
  $ 8.37     $ 8.63     $ 8.33     $ 8.05     $ 7.66     $ 7.45     $ 7.11     $ 6.73     $ 6.30  
Balance Sheet Summary:
                                                                       
Working capital
  $ 166,456     $ 107,508     $ 124,531     $ 142,915     $ 139,465     $ 148,659     $ 154,242     $ 158,858     $ 150,686  
Total assets
  $ 1,176,261     $ 714,340     $ 705,420     $ 686,450     $ 665,158     $ 652,970     $ 655,762     $ 657,974     $ 626,745  
Notes payable and current maturities of long-term debt
  $ 63,947     $ 14,242     $ 4,657     $ 4,729     $ 5,041     $ 4,103     $ 4,353     $ 7,928     $ 6,338  
Long-term debt, less current maturities
  $ 460,346     $ 156,546     $ 165,037     $ 172,686     $ 175,350     $ 163,230     $ 183,753     $ 195,283     $ 197,971  
Total debt
  $ 524,293     $ 170,788     $ 169,694     $ 177,415     $ 180,391     $ 167,333     $ 188,106     $ 203,211     $ 204,309  
Senior secured debt (included in Total Debt)
  $ 433,723     $ 80,256     $ 79,199     $ 86,957     $ 87,873     $ 73,931     $ 94,730     $ 109,884     $ 111,019  
Total stockholders’ equity
  $ 344,261     $ 354,676     $ 342,559     $ 332,110     $ 316,898     $ 308,496     $ 294,259     $ 278,447     $ 260,543  
Cash Flow Summary:
                                                                       
Operating cash flow
  $ (47,486 )   $ 16,000     $ 69,097     $ 18,298     $ 11,588     $ 31,820     $ 44,926     $ 7,086     $ (8,009 )
Depreciation & amortization(d)
  $ 12,152     $ 8,668     $ 9,279     $ 9,284     $ 8,878     $ 8,586     $ 8,546     $ 8,869     $ 8,468  
Capital expenditures
  $ 27,793     $ 32,607     $ 35,195     $ 21,565     $ 20,956     $ 14,412     $ 17,479     $ 13,402     $ 25,935  
Business acquisitions
  $ 239,539     $     $                                                  
Financing activities, net
  $ 307,193     $ 436     $ (8,628 )   $ (4,957 )   $ (30,465 )   $ 21,430     $ (15,766 )   $ (1,548 )   $ 10,618  
Cashflow Ratios:
                                                                       
EBITDA(e)
  $ 6,851     $ 31,673     $ 25,020     $ 34,198     $ 22,385     $ 33,733     $ 35,389     $ 38,210     $ 33,921  
EBITDA (last four qtrs.)
  $ 97,742     $ 113,276     $ 115,336     $ 125,705     $ 129,717     $ 141,252     $ 142,045     $ 145,464     $ 134,562  
Key Indicators (as a percentage of net sales):
                                                                       
Gross margin
    5.4 %     11.6 %     10.5 %     11.9 %     9.1 %     12.8 %     14.5 %     14.4 %     14.0 %
Selling, general and administrative expenses
    6.4 %     6.2 %     6.3 %     5.2 %     5.6 %     5.7 %     5.5 %     5.9 %     6.4 %
Operating income (loss)
    -1.0 %     6.0 %     4.1 %     6.7 %     3.6 %     7.1 %     9.1 %     8.5 %     7.7 %
Interest expense, net
    1.3 %     1.1 %     1.1 %     1.3 %     1.3 %     1.1 %     1.4 %     1.3 %     1.2 %
Net income (loss)
    -1.8 %     3.3 %     3.0 %     4.4 %     2.4 %     4.2 %     5.2 %     5.3 %     4.4 %
(a)  The Company acquired WLR Foods on January 27, 2001 for $239.5 million and the assumption of $45.5 million of indebtedness. The acquisition has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since the acquisition date                                                                        
(b) Fiscal quarter ended January 1, 1999 had 14 weeks                                                                        
(c) Historical per share amounts represent both basic and diluted and have been restated to give effect to a stock dividend issued on July 30, 1999 See Note F of the Consolidated Financial Statements of the Company included in our Annual Report on Form 10-K filed in year 2001                                                                        
(d) Includes amortization of capitalized financing costs of approximately   $ 268     $ 207     $ 251     $ 372     $ 370     $ 263     $ 241     $ 241     $ 261  
(e) “EBITDA” is defined as the sum of net income (loss) before extraordinary charges, interest, taxes, depreciation and amortization. EBITDA is presented because it is used by us, and we believe it is frequently used by securities analysts, investors and other interested parties, in addition to and not in lieu of GAAP results, to compare the performance of companies. EBITDA is not a measurement of financial performance under generally accepted accounting principles and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net income as indicators of our operating performance or any other measures of performance derived in accordance with generally accepted accounting principles. EBITDA is calculated as follows:                                                                        
 
Net Income
  $ (9,802 )   $ 12,737     $ 11,319     $ 17,144     $ 9,023     $ 14,858     $ 16,436     $ 18,317     $ 14,580  
   
Add:
                                                                       
     
Extraordinary charge-net of tax
                                                     
     
Income Tax Expense (benefit)
    (2,316 )     6,335       463       3,175       155       6,649       6,113       6,957       7,044  
     
Interest expense, net
    7,085       4,140       4,210       4,967       4,699       3,903       4,535       4,308       4,090  
     
Depreciation and amortization
    12,152       8,668       9,279       9,284       8,878       8,586       8,546       8,869       8,468  
   
Minus:
                                                                       
     
Amortization of capitalized financing costs
    268       207       251       372       370       263       241       241       261  
 
   
     
     
     
     
     
     
     
     
 
 
EBITDA
  $ 6,851     $ 31,673     $ 25,020     $ 34,198     $ 22,385     $ 33,733     $ 35,389     $ 38,210     $ 33,921  

[Additional columns below]

[Continued from above table, first column(s) repeated]


 

                                                                               
          Quarters Ended
         
          01/02/99(b)   09/26/98   06/27/98   03/28/98   12/27/97   09/27/97   6/28/97   03/29/97   12/28/96
         
 
 
 
 
 
 
 
 
          (in thousands except per share data)
Income Statement Data:
    *               *       *       *                                  
Net sales
  $ 366,088     $ 340,712     $ 328,500     $ 324,446     $ 337,887     $ 341,274     $ 335,168     $ 303,401     $ 297,806  
Gross margin
    43,901       47,126       32,736       26,861       29,380       33,860       27,285       23,085       30,267  
Selling, general and administrative expenses
    17,715       15,682       13,693       15,463       14,009       8,567       14,658       13,425       13,953  
Non-recurring recoveries
                                                     
Operating income (loss)
    26,186       31,444       19,043       11,398       15,371       25,293       12,627       9,660       16,314  
Interest expense, net
    4,733       4,824       5,195       5,093       5,036       5,770       5,572       5,284       5,449  
Miscellaneous, net
    88       (212 )     (535 )     (488 )     (463 )     595       (128 )     (397 )     (2,509 )
Income (loss) before income taxes and extraordinary charge
    21,457       26,063       13,970       6,219       10,270       19,142       7,071       4,674       12,937  
Income tax expense (benefit)
    5,537       5,773       2,135       (549 )     (847 )     451       (215 )     (280 )     2,832  
Income (loss) before extraordinary charge
    15,920       20,290       11,835       6,768       11,117       18,691       7,286       4,954       10,105  
Extraordinary charge — net of tax
                                                     
Net income (loss)
  $ 15,920     $ 20,290     $ 11,835     $ 6,768     $ 11,117     $ 18,691     $ 7,286     $ 4,954     $ 10,105  
Per Common Share Data:(c)
                                                                       
Income (loss) before extraordinary charge
  $ 0.38     $ 0.49     $ 0.29     $ 0.16     $ 0.27     $ 0.45     $ 0.18     $ 0.12     $ 0.24  
Extraordinary charge — early repayment of debt
  $     $     $     $     $     $     $     $     $  
Net Income (loss)
  $ 0.38     $ 0.49     $ 0.29     $ 0.16     $ 0.27     $ 0.45     $ 0.18     $ 0.12     $ 0.24  
Cash dividends
  $ 0.010     $ 0.010     $ 0.010     $ 0.010     $ 0.010     $ 0.010     $ 0.010     $ 0.010     $ 0.010  
Book value
  $ 5.95     $ 5.58     $ 5.08     $ 4.82     $ 4.67     $ 4.41     $ 3.97     $ 3.80     $ 3.69  
Balance Sheet Summary:
                                                                       
Working capital
  $ 144,981     $ 147,040     $ 139,713     $ 132,518     $ 114,948     $ 133,542     $ 99,829     $ 98,526     $ 100,925  
Total assets
  $ 607,365     $ 601,439     $ 578,541     $ 574,805     $ 564,611     $ 579,124     $ 566,725     $ 531,579     $ 525,628  
Notes payable and current maturities of long-term debt
  $ 4,629     $ 5,889     $ 11,638     $ 11,589     $ 8,708     $ 11,596     $ 30,884     $ 33,645     $ 25,564  
Long-term debt, less current maturities
  $ 185,358     $ 199,784     $ 216,741     $ 219,394     $ 204,890     $ 224,743     $ 210,358     $ 193,546     $ 195,957  
Total debt
  $ 189,987     $ 205,673     $ 228,379     $ 230,983     $ 213,598     $ 236,339     $ 241,242     $ 227,191     $ 221,521  
Senior secured debt (included in Total Debt)
  $ 96,735     $ 110,161     $ 129,149     $ 131,790     $ 114,443     $ 137,221     $ 142,161     $ 128,148     $ 122,461  
Total stockholders’ equity
  $ 246,377     $ 230,871     $ 210,369     $ 199,573     $ 193,220     $ 182,516     $ 164,239     $ 157,366     $ 152,826  
Cash Flow Summary:
                                                                       
Operating cash flow
  $ 37,449     $ 52,784     $ 13,487     $ (13,684 )   $ 32,429     $ 24,710     $ 15,233     $ (6,983 )   $ 16,655  
Depreciation & amortization(d)
  $ 8,653     $ 8,098     $ 8,427     $ 8,014     $ 8,052     $ 8,050     $ 7,517     $ 7,094     $ 7,135  
Capital expenditures
  $ 12,833     $ 14,084     $ 13,633     $ 10,449     $ 15,352     $ 9,456     $ 28,613     $ 7,967     $ 4,195  
Business acquisitions
                                                                       
Financing activities, net
  $ (12,938 )   $ (23,186 )   $ (15,570 )   $ 29,450     $ (23,192 )   $ (5,356 )   $ 13,600     $ 5,220     $ (13,116 )
Cashflow Ratios:
                                                                       
EBITDA(e)
  $ 34,525     $ 38,808     $ 27,308     $ 19,046     $ 23,106     $ 32,769     $ 19,839     $ 16,767     $ 25,229  
EBITDA (last four qtrs.)
  $ 119,688     $ 108,268     $ 102,229     $ 94,760     $ 92,481     $ 94,604     $ 61,835     $ 41,995     $ 25,229  
Key Indicators (as a percentage of net sales):
                                                                       
Gross margin
    12.0 %     13.8 %     10.0 %     8.3 %     8.7 %     9.9 %     8.1 %     7.6 %     10.2 %
Selling, general and administrative expenses
    4.8 %     4.6 %     4.2 %     4.8 %     4.1 %     2.5 %     4.4 %     4.4 %     4.7 %
Operating income (loss)
    7.2 %     9.2 %     5.8 %     3.5 %     4.5 %     7.4 %     3.8 %     3.2 %     5.5 %
Interest expense, net
    1.3 %     1.4 %     1.6 %     1.6 %     1.5 %     1.7 %     1.7 %     1.7 %     1.8 %
Net income (loss)
    4.3 %     6.0 %     3.6 %     2.1 %     3.3 %     5.5 %     2.2 %     1.6 %     3.4 %
(a)  The Company acquired WLR Foods on January 27, 2001 for $239.5 million and the assumption of $45.5 million of indebtedness. The acquisition has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since the acquisition date                                                                        
(b) Fiscal quarter ended January 1, 1999 had 14 weeks                                                                        
(c) Historical per share amounts represent both basic and diluted and have been restated to give effect to a stock dividend issued on July 30, 1999 See Note F of the Consolidated Financial Statements of the Company included in our Annual Report on Form 10-K filed in year 2001                                                                        
(d) Includes amortization of capitalized financing costs of approximately   $ 318     $ 177     $ 284     $ 280     $ 252     $ 193     $ 321     $ 285     $ 292  
(e) “EBITDA” is defined as the sum of net income (loss) before extraordinary charges, interest, taxes, depreciation and amortization. EBITDA is presented because it is used by us, and we believe it is frequently used by securities analysts, investors and other interested parties, in addition to and not in lieu of GAAP results, to compare the performance of companies. EBITDA is not a measurement of financial performance under generally accepted accounting principles and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net income as indicators of our operating performance or any other measures of performance derived in accordance with generally accepted accounting principles. EBITDA is calculated as follows:                                                                        
 
Net Income
  $ 15,920     $ 20,290     $ 11,835     $ 6,768     $ 11,117     $ 18,691     $ 7,286     $ 4,954     $ 10,105  
   
Add:
                                                                       
     
Extraordinary charge-net of tax
                                                     
     
Income Tax Expense (benefit)
    5,537       5,773       2,135       (549 )     (847 )     451       (215 )     (280 )     2,832  
     
Interest expense, net
    4,733       4,824       5,195       5,093       5,036       5,770       5,572       5,284       5,449  
     
Depreciation and amortization
    8,653       8,098       8,427       8,014       8,052       8,050       7,517       7,094       7,135  
   
Minus:
                                                                       
     
Amortization of capitalized financing costs
    318       177       284       280       252       193       321       285       292  
 
   
     
     
     
     
     
     
     
     
 
 
EBITDA
  $ 34,525     $ 38,808     $ 27,308     $ 19,046     $ 23,106     $ 32,769     $ 19,839     $ 16,767     $ 25,229  


 

Pilgrim’s Pride Corporation
Net Sales by Primary Market Line
for Quarters Ended:

The following table sets forth, for the quarterly periods including and since fiscal 2000, net sales attributable to each of our primary product lines and markets served with those products. We based the table on our internal sales reports and their classification of product types and customers. The information in these tables should be read in conjunction with the information in our SEC filings, including the discussion of our primary product lines and markets served with those products included in our most recent Annual Report on Form 10-K.

                                                                         
            June 28,   March 29,   December 28,   September 28,   June 29,   Mar 30   Dec 29   Sept 29,
            2003   2003   2002   2002   2002   2002   2001   2001
           
 
 
 
 
 
 
 
Chicken Sales:
                                                               
 
United States
                                                               
     
Prepared Foods:
                                                               
       
Foodservice
  $ 175,493     $ 184,802     $ 170,048     $ 170,700     $ 171,568     $ 161,171     $ 156,417     $ 166,891  
       
Retail
  $ 43,343     $ 41,202     $ 35,425     $ 41,357     $ 44,438     $ 37,691     $ 34,813     $ 32,204  
 
   
     
     
     
     
     
     
     
 
        Total Prepared Foods   $ 218,835     $ 226,004     $ 205,473     $ 212,057     $ 216,006     $ 198,862     $ 191,230     $ 199,095  
 
   
     
     
     
     
     
     
     
 
     
Fresh Chicken:
                                                               
       
Foodservice
  $ 124,290     $ 107,250     $ 101,749     $ 109,058     $ 115,080     $ 107,795     $ 116,444     $ 121,700  
       
Retail
  $ 63,863     $ 65,405     $ 59,668     $ 68,505     $ 68,619     $ 63,113     $ 58,187     $ 65,925  
 
   
     
     
     
     
     
     
     
 
        Total Fresh Chicken   $ 188,153     $ 172,655     $ 161,417     $ 177,563     $ 183,699     $ 170,907     $ 174,632     $ 187,625  
 
   
     
     
     
     
     
     
     
 
     
Export and Other
                                                               
       
Prepared Foods
  $ 7,816     $ 6,494     $ 5,213     $ 7,905     $ 7,839     $ 7,360     $ 7,423     $ 6,290  
       
Chicken-Other
  $ 21,043     $ 17,341     $ 17,931     $ 19,861     $ 19,782     $ 21,479     $ 32,453     $ 34,179  
 
   
     
     
     
     
     
     
     
 
        Total Export and Other   $ 28,859     $ 23,835     $ 23,145     $ 27,767     $ 27,621     $ 28,839     $ 39,877     $ 40,469  
 
   
     
     
     
     
     
     
     
 
        Total U.S. Chicken   $ 435,847     $ 422,493     $ 390,035     $ 417,387     $ 427,325     $ 398,609     $ 405,738     $ 427,189  
 
   
     
     
     
     
     
     
     
 
     
Mexico:(b)
  $ 88,601     $ 90,247     $ 88,091     $ 81,260     $ 80,308     $ 75,674     $ 86,528     $ 76,055  
        Total Chicken Sales   $ 524,448     $ 512,740     $ 478,126     $ 498,647     $ 507,632     $ 474,282     $ 492,266     $ 503,244  
 
   
     
     
     
     
     
     
     
 
        Total Prepared Foods     226,651       232,498       210,686       219,963       223,845       206,222     $ 198,653     $ 205,385  
Turkey Sales:
                                                               
     
Prepared Foods:
                                                               
       
Foodservice
  $ 18,658     $ 24,100     $ 24,198     $ 29,729     $ 29,732     $ 34,082     $ 41,109     $ 30,915  
       
Retail
  $ 8,455     $ 6,394     $ 5,013     $ 14,284     $ 14,723     $ 11,803     $ 13,829     $ 18,235  
 
   
     
     
     
     
     
     
     
 
        Total Prepared Foods   $ 27,112     $ 30,495     $ 29,211     $ 44,013     $ 44,454     $ 45,884     $ 54,938     $ 49,150  
 
   
     
     
     
     
     
     
     
 
     
Fresh Turkey:
                                                               
       
Foodservice
  $ 12,114     $ 13,545     $ 12,568     $ 9,797     $ 5,561     $ 7,970     $ 12,792     $ 6,911  
       
Retail
  $ 29,993     $ 15,507     $ 49,401     $ 25,402     $ 23,585     $ 15,498     $ 43,097     $ 27,898  
 
   
     
     
     
     
     
     
     
 
        Total Fresh Turkey   $ 42,107     $ 29,052     $ 61,969     $ 35,199     $ 29,146     $ 23,468     $ 55,888     $ 34,809  
 
   
     
     
     
     
     
     
     
 
     
Export and Other
                                                               
       
Prepared Foods
  $ 293     $ 486     $ 785     $ 711     $ 473     $ 564     $ 1,110     $ 851  
       
Turkey-Other
  $ 2,777     $ 2,376     $ 2,414     $ 2,910     $ 2,582     $ 2,310     $ 4,468     $ 3,805  
 
   
     
     
     
     
     
     
     
 
        Total Export and Other   $ 3,070     $ 2,862     $ 3,199     $ 3,621     $ 3,055     $ 2,874     $ 5,578     $ 4,656  
 
   
     
     
     
     
     
     
     
 
        Total Turkey Sales   $ 72,289     $ 62,408     $ 94,379     $ 82,833     $ 76,656     $ 72,226     $ 116,404     $ 88,615  
 
   
     
     
     
     
     
     
     
 
        Total Prepared Foods   $ 27,405     $ 30,981     $ 29,995     $ 44,724     $ 44,927     $ 46,448     $ 56,048     $ 50,001  
     
Sale of Other Products
                                                               
       
U.S
  $ 49,819     $ 52,801     $ 48,523     $ 52,846     $ 48,330     $ 49,543     $ 42,972     $ 45,843  
       
Mexico (b)
  $ 5,321     $ 2,644     $ 6,377     $ 5,494     $ 4,498     $ 4,702     $ 4,388     $ 3,548  
 
   
     
     
     
     
     
     
     
 
        Total Other Products   $ 55,140     $ 55,445     $ 54,900     $ 58,340     $ 52,828     $ 54,245     $ 47,360     $ 49,391  
 
   
     
     
     
     
     
     
     
 
Total Net Sales
  $ 651,877     $ 630,592     $ 627,405     $ 639,819     $ 637,116     $ 600,753     $ 656,030     $ 641,249  
 
   
     
     
     
     
     
     
     
 
   
Amounts reclassified by quarter were:
                  $     $ 123     $     $     $     $ 7  

[Additional columns below]

[Continued from above table, first column(s) repeated]
                                                                 
            Fiscal Quarters ended
           
            June 30,   Mar 31,   Dec 30,   Sept 30,   July 1,   April 1,   Jan 1,
            2001   2001 (a)   2000   2000   2000   2000   2000
           
 
 
 
 
 
 
            (in thousands)
Chicken Sales:
                                                       
 
United States
                                                       
     
Prepared Foods:
                                                       
       
Foodservice
  $ 156,859     $ 160,349     $ 147,975     $ 145,294     $ 165,577     $ 139,859     $ 138,665  
       
Retail
  $ 30,350     $ 26,029     $ 14,618     $ 16,661     $ 8,874     $ 10,698     $ 11,422  
 
   
     
     
     
     
     
     
 
        Total Prepared Foods   $ 187,209     $ 186,378     $ 162,593     $ 161,955     $ 174,451     $ 150,557     $ 150,087  
 
   
     
     
     
     
     
     
 
     
Fresh Chicken:
                                                       
       
Foodservice
  $ 165,413     $ 62,047     $ 38,464     $ 46,205     $ 54,691     $ 51,951     $ 49,345  
       
Retail
  $ 43,974     $ 78,608     $ 36,187     $ 37,673     $ 39,758     $ 37,021     $ 34,525  
 
   
     
     
     
     
     
     
 
        Total Fresh Chicken   $ 209,386     $ 140,655     $ 74,651     $ 83,878     $ 94,449     $ 88,972     $ 83,870  
 
   
     
     
     
     
     
     
 
     
Export and Other
                                                       
       
Prepared Foods
  $ 6,450     $ 4,793     $ 1,379     $ 1,466     $ 1,378     $ 1,050     $ 701  
       
Chicken-Other
  $ 19,939     $ 24,514     $ 27,203     $ 16,250     $ 12,695     $ 13,108     $ 15,519  
 
   
     
     
     
     
     
     
 
        Total Export and Other   $ 26,389     $ 29,307     $ 28,582     $ 17,716     $ 14,073     $ 14,158     $ 16,221  
 
   
     
     
     
     
     
     
 
        Total U.S. Chicken   $ 422,984     $ 356,340     $ 265,826     $ 263,549     $ 282,973     $ 253,687     $ 250,178  
 
   
     
     
     
     
     
     
 
     
Mexico:(b)
  $ 84,078     $ 70,447     $ 72,853     $ 73,176     $ 75,686     $ 71,804     $ 64,939  
        Total Chicken Sales   $ 507,063     $ 426,787     $ 338,679     $ 336,725     $ 358,659     $ 325,491     $ 315,117  
 
   
     
     
     
     
     
     
 
        Total Prepared Foods   $ 193,659     $ 191,172     $ 163,972     $ 163,421     $ 175,829     $ 151,607     $ 150,788  
Turkey Sales:
                                                       
     
Prepared Foods:
                                                       
       
Foodservice
  $ 38,535     $ 18,561                                
       
Retail
  $ 15,970     $ 14,477                                
 
   
     
     
     
     
     
     
 
        Total Prepared Foods   $ 54,504     $ 33,038                                
 
   
     
     
     
     
     
     
 
     
Fresh Turkey:
                                                       
       
Foodservice
  $ 6,141     $ 5,567                                
       
Retail
  $ 22,947     $ 20,802                                
 
   
     
     
     
     
     
     
 
        Total Fresh Turkey   $ 29,088     $ 26,369                                
 
   
     
     
     
     
     
     
 
     
Export and Other
                                             
       
Prepared Foods
  $ 941     $ 641                                
       
Turkey-Other
  $ 2,846     $ 2,792                                
 
   
     
                                         
        Total Export and Other   $ 3,788     $ 3,433                                
 
   
     
     
     
     
     
     
 
        Total Turkey Sales   $ 87,380     $ 62,840                                
 
   
     
     
     
     
     
     
 
        Total Prepared Foods   $ 55,446     $ 33,679                                      
     
Sale of Other Products
                                                       
       
U.S
  $ 45,719     $ 46,569     $ 41,725     $ 36,706     $ 27,940     $ 42,843     $ 34,201  
       
Mexico (b)
  $ 5,674     $ 5,397     $ 5,627     $ 5,945     $ 5,380     $ 4,926     $ 5,507  
 
   
     
     
     
     
     
     
 
        Total Other Products   $ 51,393     $ 51,966     $ 47,353     $ 42,650     $ 33,320     $ 47,769     $ 39,708  
 
   
     
     
     
     
     
     
 
Total Net Sales
  $ 645,836     $ 541,593     $ 386,032     $ 379,375     $ 391,979     $ 373,260     $ 354,825  
 
   
     
     
     
     
     
     
 
   
Amounts reclassified by quarter were:
  $ 11     $ 10     $ 10     $ 146     $ 132     $ 121     $ 135  

(a)   The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since January 27, 2001, the acquisition date.
 
(b)   Certain item previously classified under Mexico have been reclassified under sale of other products-Mexico.

 


 

                                                                         
                                    Fiscal Quarters ended
                                   
            June 28,   March 29,   December 28,   September 28,   June 29,   Mar 30   Dec 29   Sept 29,
            2003   2003   2002   2002   2002   2002   2001   2001
           
 
 
 
 
 
 
 
            (in thousands)
Chicken Sales:
                                                               
 
U.S. Chicken Sales:
                                                               
   
Prepared Foods:
                                                               
     
Foodservice
    40.3 %     43.7 %     43.6 %     40.9 %     40.1 %     40.4 %     38.6 %     39.1 %
     
Retail
    9.9 %     9.8 %     9.1 %     9.9 %     10.4 %     9.5 %     8.6 %     7.5 %
 
   
     
     
     
     
     
     
     
 
       
Total Prepared Foods
    50.2 %     53.5 %     52.7 %     50.8 %     50.5 %     49.9 %     47.1 %     46.6 %
 
   
     
     
     
     
     
     
     
 
   
Fresh Chicken:
                                                               
       
Foodservice
    28.5 %     25.4 %     26.1 %     26.1 %     26.9 %     27.0 %     28.7 %     28.5 %
       
Retail
    14.7 %     15.5 %     15.3 %     16.4 %     16.1 %     15.8 %     14.3 %     15.4 %
 
   
     
     
     
     
     
     
     
 
       
Total Fresh Chicken
    43.2 %     40.9 %     41.4 %     42.5 %     43.0 %     42.9 %     43.0 %     43.9 %
   
Export and Other
                                                    1.8 %        
     
Prepared Foods
    1.8 %     1.5 %     1.3 %     1.9 %     1.8 %     1.8 %     1.8 %     1.5 %
     
Chicken-Other
    4.8 %     4.1 %     4.6 %     4.8 %     4.6 %     5.4 %     8.0 %     8.0 %
 
   
     
     
     
     
     
     
     
 
   
Export and Other
    6.6 %     5.6 %     5.9 %     6.7 %     6.5 %     7.2 %     9.8 %     9.5 %
       
Total U.S. Chicken
    100.0 %     100.0 %     100.0 %     100.0 %     100.0 %     100.0 %     100.0 %     100.0 %
 
   
     
     
     
     
     
     
     
 
Turkey Sales:
                                                               
 
U.S. Turkey Sales:
                                                               
   
Prepared Foods:
                                                               
     
Foodservice
    25.8 %     38.6 %     25.6 %     35.9 %     38.8 %     47.2 %     35.3 %     34.9 %
     
Retail
    11.7 %     10.2 %     5.3 %     17.2 %     19.2 %     16.3 %     11.9 %     20.6 %
 
   
     
     
     
     
     
     
     
 
       
Total Prepared Foods
    37.5 %     48.9 %     31.0 %     53.1 %     58.0 %     63.5 %     47.2 %     55.5 %
 
   
     
     
     
     
     
     
     
 
   
Fresh Turkey:
                                                               
     
Foodservice
    16.8 %     21.7 %     13.3 %     11.8 %     7.3 %     11.0 %     11.0 %     7.8 %
     
Retail
    41.5 %     24.8 %     52.3 %     30.7 %     30.8 %     21.5 %     37.0 %     31.5 %
 
   
     
     
     
     
     
     
     
 
       
Total Fresh Turkey
    58.2 %     46.6 %     65.7 %     42.5 %     38.0 %     32.5 %     48.0 %     39.3 %
   
Export and Other
                                                               
     
Prepared Foods
    0.4 %     0.8 %     0.8 %     0.9 %     0.6 %     0.8 %     1.0 %     1.0 %
     
Turkey-Other
    3.8 %     3.8 %     2.6 %     3.5 %     3.4 %     3.2 %     3.8 %     4.3 %
 
   
     
     
     
     
     
     
     
 
   
Export and Other
    4.2 %     4.6 %     3.4 %     4.4 %     4.0 %     4.0 %     4.8 %     5.3 %
       
Total U.S. Turkey
    100.0 %     100.0 %     100.0 %     100.0 %     100.0 %     100.0 %     100.0 %     100.0 %
 
   
     
     
     
     
     
     
     
 

[Additional columns below]

[Continued from above table, first column(s) repeated]
                                                                 
            Fiscal Quarters ended
           
            June 30,   Mar 31,   Dec 30,   Sept 30,   July 1,   April 1,   Jan 1,
            2001   2001 (a)   2000   2000   2000   2000   2000
           
 
 
 
 
 
 
            (in thousands)
Chicken Sales:
                                                       
 
U.S. Chicken Sales:
                                                       
   
Prepared Foods:
                                                       
     
Foodservice
    37.1 %     45.0 %     55.7 %     55.1 %     58.5 %     55.1 %     55.4 %
     
Retail
    7.2 %     7.3 %     5.5 %     6.3 %     3.1 %     4.2 %     4.6 %
 
   
     
     
     
     
     
     
 
       
Total Prepared Foods
    44.3 %     52.3 %     61.2 %     61.5 %     61.6 %     59.3 %     60.0 %
 
   
     
     
     
     
     
     
 
   
Fresh Chicken:
                                                       
       
Foodservice
    39.1 %     17.4 %     14.5 %     17.5 %     19.3 %     20.5 %     19.7 %
       
Retail
    10.4 %     22.1 %     13.6 %     14.3 %     14.1 %     14.6 %     13.8 %
 
   
     
     
     
     
     
     
 
       
Total Fresh Chicken
    49.5 %     39.5 %     28.1 %     31.8 %     33.4 %     35.1 %     33.5 %
   
Export and Other
                                                       
     
Prepared Foods
    1.5 %     1.3 %     0.5 %     0.6 %     0.5 %     0.4 %     0.3 %
     
Chicken-Other
    4.7 %     6.9 %     10.2 %     6.2 %     4.5 %     5.2 %     6.2 %
 
   
     
     
     
     
     
     
 
   
Export and Other
    6.2 %     8.2 %     10.8 %     6.7 %     5.0 %     5.6 %     6.5 %
       
Total U.S. Chicken
    100.0 %     100.0 %     100.0 %     100.0 %     100.0 %     100.0 %     100.0 %
 
   
     
     
     
     
     
     
 
Turkey Sales:
                                                       
 
U.S. Turkey Sales:
                                                       
   
Prepared Foods:
                                                       
     
Foodservice
    44.1 %     29.5 %                              
     
Retail
    18.3 %     23.0 %                              
 
   
     
     
     
     
     
     
 
       
Total Prepared Foods
    62.4 %     52.6 %                              
 
   
     
     
     
     
     
     
 
   
Fresh Turkey:
                                                       
     
Foodservice
    7.0 %     8.9 %                              
     
Retail
    26.3 %     33.1 %                              
 
   
     
     
     
     
     
     
 
       
Total Fresh Turkey
    33.3 %     42.0 %                              
   
Export and Other
                                                       
   
Prepared Foods
    1.1 %     1.0 %                              
     
Turkey-Other
    3.3 %     4.4 %                              
 
   
     
     
     
     
     
     
 
   
Export and Other
    4.3 %     5.5 %                              
       
Total U.S. Turkey
    100.0 %     100.0 %                              
 
   
     
     
     
     
     
     
 

(a)   The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since January 27, 2001, the acquisition date.

 


 

Pilgrim’s Pride Corporation
Statistical Management Discussion and Analysis
for quarters ended:

Our Statistical Management Discussion and Analysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and “Management’s Discussion and Analysis of Results of Operations and Financial Condition” included in our SEC filings.

                                                                 
           
            06/28/03   03/29/03   12/28/02   09/28/02   06/29/02   03/30/02   12/29/01
           
 
 
 
 
 
 
        United States                                                        
Chicken Operations:
                                                       
U.S. Chicken Sales (000’s)
  $ 435,848     $ 422,493     $ 390,034     $ 417,387     $ 427,325     $ 398,608     $ 405,738  
     
U.S. Chicken Sales divided by U.S Chicken Net Pounds Produced
  $ 0.6924     $ 0.7255     $ 0.6617     $ 0.6883     $ 0.6934     $ 0.6872     $ 0.7075  
U.S. Chicken Net Pounds Produced (000’s)
    629,496       582,383       589,433       606,383       616,274       580,037       573,464  
Other Operations:
                                                       
Other Sales (000’s)
    49,819       52,801       48,523       52,846       48,330       49,543       42,972  
U.S. Chicken Sales & Other Sales Totals:
                                                       
U.S. Chicken Sales & Other Sales (000’s)
    485,667       475,294       438,557       470,233       475,655       448,151       448,710  
U.S. Chicken & Other Operating Income (000’s)
    26,734       1,628       (10,379 )     4,442       13,138       3,701       9,355  
     
U.S. Chicken & Other Operating Income as a percent of U.S. Chicken & Other Sales
    5.50 %     0.34 %     -2.37 %     0.94 %     2.76 %     0.83 %     2.08 %
        Turkey                                                        
U.S. Turkey Sales (000’s)
    72,289       62,407       94,379       82,832       76,656       72,226       116,404  
     
U.S. Turkey Sales divided by U.S Turkey Net Pounds Produced
  $ 0.6617     $ 0.5672     $ 0.9047     $ 0.8353     $ 0.7304     $ 0.6222     $ 1.0311  
U.S. Turkey Operating Income (000’s)
    (19,726 )     (15,403 )     (14,268 )     (10,883 )     (5,614 )     (7,559 )     5,503  
     
U.S. Turkey Operating Income as a percent of U.S. Turkey Sales
    -27.29 %     -24.68 %     -15.12 %     -13.14 %     -7.32 %     -10.47 %     4.73 %
U.S. Turkey Net Pounds Produced (000’s)
    109,252       110,024       104,321       99,165       104,946       116,074       112,896  
U.S. Summary
                                                       
U.S. Sales (000’s)
    557,956       537,701       532,936       553,065       552,311       520,377       565,114  
U.S. Cost of Sales (000’s)
    522,326       522,291       517,183       531,360       517,671       0       522,513  
U.S. Gross Margin (000’s)
    35,630       15,410       15,753       21,705       34,640       23,081       42,601  
 
U.S. Gross Margin as a percent of U.S. Sales
    6.39 %     2.87 %     2.96 %     3.92 %     6.27 %     4.44 %     7.54 %
U.S. Selling, General and Administrative Expenses (000’s)
    28,622       29,185       26,013       28,146       27,116       26,939       27,743  
   
U.S. Selling, General and Administrative Expenses as a percent of U.S Sales
    5.13 %     5.43 %     4.88 %     5.09 %     4.91 %     5.18 %     4.91 %
U.S. Operating Income (000’s)
    7,008       (13,775 )     (10,260 )     (6,441 )     7,524       (3,858 )     14,858  
 
U.S. Operating Income as a percent of U.S. Sales
    1.26 %     -2.56 %     -1.93 %     -1.16 %     1.36 %     -0.74 %     2.63 %
        Mexico                                                        
Chicken Operations:
                                                       
Mexico Chicken Sales (000’s)(C)
    88,600       90,247       88,092       81,260       80,307       75,674       86,528  
 
Mexico Chicken Sales divided by Mexico Chicken Net Pounds Produced
  $ 0.6175     $ 0.5759     $ 0.5898     $ 0.5984     $ 0.6177     $ 0.5820     $ 0.5812  
Mexico Other Operations:
                                                       
Mexico Other Sales (000’s) (c)
    5,321       2,644       6,377       5,494       4,498       4,702       4,388  
Mexico Chicken Operating Income (000’s)
    8,830       3,872       6,214       3,276       5,831       (514 )     8,471  
   
Mexico Operating Income as a percent of Mexico Chicken Sales
    9.40 %     4.17 %     6.58 %     3.78 %     6.88 %     -0.64 %     9.32 %

[Additional columns below]

[Continued from above table, first column(s) repeated]
                                                                 
                    Quarters Ended
           
            09/29/01   06/30/01   03/31/01(a)   12/30/00   09/30/00   07/01/00   04/01/00
           
 
 
 
 
 
 
        United States                                                        
Chicken Operations:
                                                       
U.S. Chicken Sales (000’s)
  $ 427,191     $ 422,985     $ 356,341     $ 265,824     $ 263,549     $ 282,973     $ 253,687  
     
U.S. Chicken Sales divided by U.S Chicken Net Pounds Produced
  $ 0.7470     $ 0.7232     $ 0.7096     $ 0.7221     $ 0.7173     $ 0.7187     $ 0.6624  
U.S. Chicken Net Pounds Produced (000’s)
    571,867       584,896       502,173       368,143       367,431       393,755       382,955  
Other Operations:
                                                       
Other Sales (000’s)
    45,843       45,719       46,568       41,725       36,706       27,940       42,843  
U.S. Chicken Sales & Other Sales Totals:
                                                       
U.S. Chicken Sales & Other Sales (000’s)
    473,034       468,704       402,909       307,552       300,255       310,913       296,530  
U.S. Chicken & Other Operating Income (000’s)
    27,700       26,822       1,795       18,436       8,411       12,909       3,502  
     
U.S. Chicken & Other Operating Income as a percent of U.S. Chicken & Other Sales
    5.86 %     5.72 %     0.45 %     5.99 %     2.80 %     4.15 %     1.18 %
        Turkey                                                        
U.S. Turkey Sales (000’s)
    88,615       87,380       62,840                          
     
U.S. Turkey Sales divided by U.S Turkey Net Pounds Produced
  $ 0.7896     $ 0.7875     $ 0.8282                          
U.S. Turkey Operating Income (000’s)
    2,406       3,750       (1,867 )                        
     
U.S. Turkey Operating Income as a percent of U.S. Turkey Sales
    2.72 %     4.29 %     -2.97 %                        
U.S. Turkey Net Pounds Produced (000’s)
    112,233       110,958       75,879                          
U.S. Summary
                                                       
U.S. Sales (000’s)
    561,649       556,084       465,749       307,552       300,255       310,913       296,530  
U.S. Cost of Sales (000’s)
    507,112       501,065       436,038       270,315       273,604       282,676       276,987  
U.S. Gross Margin (000’s)
    54,537       55,019       29,711       37,237       26,651       28,237       19,543  
 
U.S. Gross Margin as a percent of U.S. Sales
    9.71 %     9.89 %     6.38 %     12.11 %     8.88 %     9.08 %     6.59 %
U.S. Selling, General and Administrative Expenses (000’s)
    24,431       24,448       29,783       18,801       18,240       15,328       16,041  
   
U.S. Selling, General and Administrative Expenses as a percent of U.S Sales
    4.35 %     4.40 %     6.39 %     6.11 %     6.07 %     4.93 %     5.41 %
U.S. Operating Income (000’s)
    30,106       30,571       (72 )     18,436       8,411       12,909       3,502  
 
U.S. Operating Income as a percent of U.S. Sales
    5.36 %     5.50 %     -0.02 %     5.99 %     2.80 %     4.15 %     1.18 %
        Mexico                                                        
Chicken Operations:
                                                       
Mexico Chicken Sales (000’s)(C)
    76,054       84,078       70,447       72,853       73,176       75,686       71,804  
 
Mexico Chicken Sales divided by Mexico Chicken Net Pounds Produced
  $ 0.5455     $ 0.6411     $ 0.5039     $ 0.5222     $ 0.5634     $ 0.6585     $ 0.6309  
Mexico Other Operations:
                                                       
Mexico Other Sales (000’s) (c)
    3,548       5,674       5,397       5,627       5,945       5,380       4,926  
Mexico Chicken Operating Income (000’s)
    1,011       13,767       (5,201 )     2,580       7,225       13,439       9,779  
   
Mexico Operating Income as a percent of Mexico Chicken Sales
    1.27 %     15.34 %     -6.86 %     3.29 %     9.13 %     16.58 %     12.74 %

 


 

Pilgrim’s Pride Corporation
Statistical Management Discussion and Analysis
for quarters ended:

Our Statistical Management Discussion and Analysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and “Management’s Discussion and Analysis of Results of Operations and Financial Condition” included in our SEC filings.
                                                                 
            06/28/03   03/29/03   12/28/02   09/28/02   06/29/02   03/30/02   12/29/01
           
 
 
 
 
 
 
Mexico Net Pounds Produced (000’s)
    143,474       156,717       149,356       135,789       130,012       130,027       148,876  
Consolidated Operations                                                        
Chicken Operations:
                                                       
Chicken Sales from all Divisions (000’s)
    524,448       512,740       478,126       498,647       507,632       474,282       492,266  
     
Chicken Sales from all divisions divided by Chicken Net Pounds Produced from all Divisions
  $ 0.6785     $ 0.6937     $ 0.6472     $ 0.6719     $ 0.6802     $ 0.6679     $ 0.6815  
Chicken Net Pounds Produced from all Divisions (000’s)
    772,970       739,100       738,789       742,172       746,286       710,064       722,340  
Other Operations:
                                                       
Other Sales (000’s)(C)
    55,140       55,445       54,900       58,340       52,828       54,245       47,360  
Totals All Operations:
                                                       
Total Net Sales (000’s)
    651,877       630,592       627,405       639,819       637,116       600,753       656,030  
Total Cost of Sales (000’s)
    600,932       604,919       599,406       608,213       590,808       572,122       598,166  
Gross Margin from all operations (000’s)
    50,945       25,673       27,999       31,606       46,308       28,631       57,864  
       
Gross Margin from all operations as a percent of Total Net Sales
    7.82 %     4.07 %     4.46 %     4.94 %     7.27 %     4.77 %     8.82 %
Total Selling, General and Administrative Expenses (000’s)
    35,107       35,576       32,045       34,771       32,953       33,003       34,535  
     
Total Selling, General and Administrative Expenses as a percent of Total Net Sales
    5.39 %     5.64 %     5.11 %     5.43 %     5.17 %     5.49 %     5.26 %
Operating Income from all operations (000’s)
    15,838       (9,903 )     (4,046 )     (3,165 )     13,355       (4,372 )     23,329  
       
Operating Income from all operations as a percent of Total Net Sales
    2.43 %     1.57 %     -0.64 %     -0.49 %     2.10 %     -0.73 %     3.56 %
 
Avian Influenza Reimbursement (000’s)
    67       1,749       14,301                          
 
Vitamin Settlements (000’s)
    10,235       9,564       86       65       691              
     
Total Adjustments (000’S)
    10,302       11,313       14,387       65       691              
Consolidated Adjusted Chicken and Turkey Operating Income (000’s)
    26,140       1,410       10,341       (3,100 )     14,046       (4,372 )     23,329  
   
Consolidated Adjusted Chicken and Turkey Income as a percent of Total Net Sales
    4.01 %     0.22 %     1.65 %     -0.48 %     2.20 %     -0.73 %     3.56 %
(a)  The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since January 27, 2001, the acquisition date.
(b)  14 week Quarter.
(c)  Certain item previously classified under Mexico have been reclassified under sale of other products-Mexico.
  Amounts reclassified by quarter were:   $     $     $     $ 123     $     $     $  

[Additional columns below]

[Continued from above table, first column(s) repeated]
                                                                 
                    Quarters Ended
                   
            09/29/01   06/30/01   03/31/01(a)   12/30/00   09/30/00   07/01/00   04/01/00
           
 
 
 
 
 
 
Mexico Net Pounds Produced (000’s)
    139,415       131,152       139,799       139,510       129,877       114,931       113,805  
Consolidated Operations                                                        
Chicken Operations:
                                                       
Chicken Sales from all Divisions (000’s)
    503,245       507,063       426,788       338,677       336,725       358,659       325,491  
     
Chicken Sales from all divisions divided by Chicken Net Pounds Produced from all Divisions
  $ 0.7075     $ 0.7081     $ 0.6648     $ 0.6671     $ 0.6771     $ 0.7051     $ 0.6552  
Chicken Net Pounds Produced from all Divisions (000’s)
    711,282       716,048       641,972       507,653       497,308       508,686       496,760  
Other Operations:
                                                       
Other Sales (000’s)(C)
    49,391       51,393       51,965       47,352       42,651       33,320       47,769  
Totals All Operations:
                                                       
Total Net Sales (000’s)
    641,251       645,836       541,593       386,032       379,375       391,979       373,260  
Total Cost of Sales (000’s)
    579,307       571,360       512,377       341,061       339,718       345,314       339,231  
Gross Margin from all operations (000’s)
    61,944       74,476       29,216       44,971       39,658       46,665       34,029  
       
Gross Margin from all operations as a percent of Total Net Sales
    9.66 %     11.53 %     5.39 %     11.65 %     10.45 %     11.90 %     9.12 %
Total Selling, General and Administrative Expenses (000’s)
    30,827       30,138       34,488       23,955       24,022       20,316       20,747  
     
Total Selling, General and Administrative Expenses as a percent of Total Net Sales
    4.81 %     4.67 %     6.37 %     6.21 %     6.33 %     5.18 %     5.56 %
Operating Income from all operations (000’s)
    31,117       44,338       (5,272 )     21,016       15,636       26,349       13,282  
       
Operating Income from all operations as a percent of Total Net Sales
    4.85 %     6.87 %     -0.97 %     5.44 %     4.12 %     6.72 %     3.56 %
 
Avian Influenza Reimbursement (000’s)
                                           
 
Vitamin Settlements (000’s)
          1,149             2,195                    
     
Total Adjustments (000’S)
          1,149             2,195                    
Consolidated Adjusted Chicken and Turkey Operating Income (000’s)
    31,117       45,487       (5,272 )     23,211       15,636       26,349       13,282  
   
Consolidated Adjusted Chicken and Turkey Income as a percent of Total Net Sales
    4.85 %     7.04 %     -0.97 %     6.01 %     4.12 %     6.72 %     3.56 %
(a)  The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since January 27, 2001, the acquisition date.
(b)  14 week Quarter.
(c)  Certain item previously classified under Mexico have been reclassified under sale of other products-Mexico.
  Amounts reclassified by quarter were:   $ 7     $ 10     $ 10     $ 10     $ 146     $ 132     $ 122  


 

Pilgrim’s Pride Corporation
Statistical Management Discussion and Analysis
for quarters ended:

Our Statistical Management Discussion and Analysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and “Management’s Discussion and Analysis of Results of Operations and Financial Condition” included in our SEC filings.

                                                                 
           
            01/01/00   10/02/99   07/03/99   04/03/99   01/02/99(b)   06/26/98   06/27/98
           
 
 
 
 
 
 
        United States                                                        
Chicken Operations:
                                                       
U.S. Chicken Sales (000’s)
  $ 250,178     $ 249,181     $ 254,794     $ 236,673     $ 222,848     $ 243,772     $ 228,719  
     
U.S. Chicken Sales divided by U.S Chicken Net Pounds Produced
  $ 0.7140     $ 0.7220     $ 0.7317     $ 0.6953     $ 0.6517     $ 0.7828     $ 0.7196  
U.S. Chicken Net Pounds Produced (000’s)
    350,409       345,141       348,232       340,387       341,931       311,428       317,849  
Other Operations:
                                                       
Other Sales (000’s)
    34,201       32,151       26,461       36,690       44,105       34,391       32,656  
U.S. Chicken Sales & Other Sales Totals:
                                                       
U.S. Chicken Sales & Other Sales (000’s)
    284,379       281,332       281,255       273,363       266,953       278,163       261,375  
U.S. Chicken & Other Operating Income (000’s)
    21,106       25,619       22,076       21,741       18,741       22,266       8,434  
     
U.S. Chicken & Other Operating Income as a percent of U.S. Chicken & Other Sales
    7.42 %     9.11 %     7.85 %     7.95 %     7.02 %     8.00 %     3.23 %
        Turkey                                                        
U.S. Turkey Sales (000’s)
                                         
     
U.S. Turkey Sales divided by U.S Turkey Net Pounds Produced
                                         
U.S. Turkey Operating Income (000’s)
                                         
     
U.S. Turkey Operating Income as a percent of U.S. Turkey Sales
                                         
U.S. Turkey Net Pounds Produced (000’s)
                                         
U.S. Summary
                                                       
U.S. Sales (000’s)
    284,379       281,332       281,255       273,363       266,953       278,163       261,375  
U.S. Cost of Sales (000’s)
    247,149       242,313       243,018       234,533       234,667       244,055       241,956  
U.S. Gross Margin (000’s)
    37,230       39,019       38,236       38,830       32,287       34,108       19,419  
 
U.S. Gross Margin as a percent of U.S. Sales
    13.09 %     13.87 %     13.59 %     14.20 %     12.09 %     12.26 %     7.43 %
U.S. Selling, General and Administrative Expenses (000’s)
    16,124       13,399       16,160       17,089       13,545       11,842       10,985  
   
U.S. Selling, General and Administrative Expenses as a percent of U.S Sales
    5.67 %     4.76 %     5.75 %     6.25 %     5.07 %     4.26 %     4.20 %
U.S. Operating Income (000’s)
    21,106       25,619       22,076       21,741       18,741       22,266       8,434  
 
U.S. Operating Income as a percent of U.S. Sales
    7.42 %     9.11 %     7.85 %     7.95 %     7.02 %     8.00 %     3.23 %
        Mexico                                                        
Chicken Operations:
                                                       
Mexico Chicken Sales (000’s)(C)
    64,939       60,244       57,870       51,805       63,613       55,508       59,945  
 
Mexico Chicken Sales divided by Mexico Chicken Net Pounds Produced
  $ 0.5141     $ 0.4746     $ 0.5505     $ 0.5290     $ 0.5022     $ 0.6025     $ 0.6491  
Mexico Other Operations:
                                                       
Mexico Other Sales (000’s) (c)
    5,507       5,685       5,035       4,726       5,522       7,040       7,180  
Mexico Chicken Operating Income (000’s)
    4,116       3,195       7,136       3,551       7,445       9,178       10,608  
   
Mexico Operating Income as a percent of Mexico Chicken Sales
    5.84 %     4.85 %     11.34 %     6.28 %     10.77 %     14.67 %     15.80 %

[Additional columns below]

[Continued from above table, first column(s) repeated]
                                                         
           
            3/28/98   12/27/97   09/27/97   6/28/97   03/29/97   12/28/96
           
 
 
 
 
 
        United States                                                
Chicken Operations:
                                               
U.S. Chicken Sales (000’s)
  $ 218,268     $ 218,634     $ 233,779     $ 227,111     $ 204,128     $ 193,147  
     
U.S. Chicken Sales divided by U.S Chicken Net Pounds Produced
  $ 0.6908     $ 0.6816     $ 0.7017     $ 0.6926     $ 0.7090     $ 0.7163  
U.S. Chicken Net Pounds Produced (000’s)
    315,948       320,773       333,184       327,928       287,915       269,655  
Other Operations:
                                               
Other Sales (000’s)
    36,074       40,942       34,382       33,619       38,095       38,391  
U.S. Chicken Sales & Other Sales Totals:
                                               
U.S. Chicken Sales & Other Sales (000’s)
    254,342       259,576       268,161       260,730       242,223       231,538  
U.S. Chicken & Other Operating Income (000’s)
    3,104       2,473       10,300       4,622       4,031       10,369  
     
U.S. Chicken & Other Operating Income as a percent of U.S. Chicken & Other Sales
    1.22 %     0.95 %     3.84 %     1.77 %     1.66 %     4.48 %
        Turkey                                                
U.S. Turkey Sales (000’s)
                                   
     
U.S. Turkey Sales divided by U.S Turkey Net Pounds Produced
                                   
U.S. Turkey Operating Income (000’s)
                                   
     
U.S. Turkey Operating Income as a percent of U.S. Turkey Sales
                                   
U.S. Turkey Net Pounds Produced (000’s)
                                   
U.S. Summary
                                               
U.S. Sales (000’s)
    254,342       259,576       268,161       260,730       242,223       231,538  
U.S. Cost of Sales (000’s)
    239,915       246,985       253,014       244,820       227,462       210,213  
U.S. Gross Margin (000’s)
    14,427       12,591       15,147       15,910       14,761       21,325  
 
U.S. Gross Margin as a percent of U.S. Sales
    5.67 %     4.85 %     5.65 %     6.10 %     6.09 %     9.21 %
U.S. Selling, General and Administrative Expenses (000’s)
    11,323       10,118       4,847       11,288       10,730       10,956  
   
U.S. Selling, General and Administrative Expenses as a percent of U.S Sales
    4.45 %     3.90 %     1.81 %     4.33 %     4.43 %     4.73 %
U.S. Operating Income (000’s)
    3,104       2,473       10,300       4,622       4,031       10,369  
 
U.S. Operating Income as a percent of U.S. Sales
    1.22 %     0.95 %     3.84 %     1.77 %     1.66 %     4.48 %
       
Mexico
                                               
Chicken Operations:
                                               
Mexico Chicken Sales (000’s)(C)
    63,333       78,311       73,113       74,438       61,178       66,268  
 
Mexico Chicken Sales divided by Mexico Chicken Net Pounds Produced
  $ 0.6253     $ 0.6803     $ 0.6612     $ 0.6916     $ 0.5959     $ 0.6538  
Mexico Other Operations:
                                               
Mexico Other Sales (000’s) (c)
    6,771       7,823                                  
Mexico Chicken Operating Income (000’s)
    8,294       12,898       14,993       8,005       5,630       5,945  
   
Mexico Operating Income as a percent of Mexico Chicken Sales
    11.83 %     16.47 %     20.51 %     10.75 %     9.20 %     8.97 %

 


 

Pilgrim’s Pride Corporation
Statistical Management Discussion and Analysis
for quarters ended:

Our Statistical Management Discussion and Analysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and “Management’s Discussion and Analysis of Results of Operations and Financial Condition” included in our SEC filings.
                                                                 
            01/01/00   10/02/99   07/03/99   04/03/99   01/02/99(b)   09/26/98   06/27/98
           
 
 
 
 
 
 
Mexico Net Pounds Produced (000’s)
    126,313       126,948       105,117       97,927       126,657       92,135       92,350  
       
Consolidated Operations
                                                       
Chicken Operations:
                                                       
Chicken Sales from all Divisions (000’s)
    315,117       309,425       312,664       288,478       286,461       299,280       288,664  
     
Chicken Sales from all divisions divided by Chicken Net Pounds Produced from all Divisions
  $ 0.6610     $ 0.6554     $ 0.6897     $ 0.6582     $ 0.6113     $ 0.7416     $ 0.7037  
Chicken Net Pounds Produced from all Divisions (000’s)
    476,722       472,089       453,349       438,314       468,588       403,563       410,199  
Other Operations:
                                                       
Other Sales (000’s)(C)
    39,708       37,836       31,496       41,416       49,627       41,431       39,836  
Totals All Operations:
                                                       
Total Net Sales (000’s)
    354,825       347,261       344,160       329,894       336,088       340,711       328,500  
Total Cost of Sales (000’s)
    309,348       301,131       294,745       283,632       292,187       293,586       295,764  
Gross Margin from all operations (000’s)
    45,477       46,131       49,415       46,262       43,900       47,125       32,736  
       
Gross Margin from all operations as a percent of Total Net Sales
    12.82 %     13.28 %     14.36 %     14.02 %     13.06 %     13.83 %     9.97 %
Total Selling, General and Administrative Expenses (000’s)
    20,255       17,316       20,203       20,970       17,715       15,681       13,694  
     
Total Selling, General and Administrative Expenses as a percent of Total Net Sales
    5.71 %     4.99 %     5.87 %     6.36 %     5.27 %     4.60 %     4.17 %
Operating Income from all operations (000’s)
    25,222       28,814       29,212       25,292       26,186       31,444       19,042  
       
Operating Income from all operations as a percent of Total Net Sales
    7.11 %     8.30 %     8.49 %     7.67 %     7.79 %     9.23 %     5.80 %
 
Avian Influenza Reimbursement (000’s)
                                         
 
Vitamin Settlements (000’s)
                                         
   
Total Adjustments (000’S)
                                         
Consolidated Adjusted Chicken and Turkey Operating Income (000’s)
    25,222       28,814       29,212       25,292       26,186       31,444       19,042  
   
Consolidated Adjusted Chicken and Turkey Income as a percent of Total Net Sales
    7.11 %     8.30 %     8.49 %     7.67 %     7.79 %     9.23 %     5.80 %
(a)  The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since January 27, 2001, the acquisition date.
(b)  14 week Quarter.
(c)  Certain item previously classified under Mexico have been reclassified under sale of other products-Mexico.
  Amounts reclassified by quarter were:   $ 135     $     $     $     $     $     $  

[Additional columns below]

[Continued from above table, first column(s) repeated]
                                                         
            03/28/98   12/27/97   09/27/97   6/28/97   03/29/97   12/28/96
           
 
 
 
 
 
Mexico Net Pounds Produced (000’s)
    101,276       115,118       110,570       107,635       102,663       101,357  
       
Consolidated Operations
                                               
Chicken Operations:
                                               
Chicken Sales from all Divisions (000’s)
    281,601       289,122       306,892       301,549       265,306       259,415  
     
Chicken Sales from all divisions divided by Chicken Net Pounds Produced from all Divisions
  $ 0.6749     $ 0.6633     $ 0.6916     $ 0.6923     $ 0.6793     $ 0.6992  
Chicken Net Pounds Produced from all Divisions (000’s)
    417,224       435,891       443,754       435,563       390,578       371,012  
Other Operations:
                                               
Other Sales (000’s)(C)
    42,845       48,765       34,382       33,619       38,095       38,391  
Totals All Operations:
                                               
Total Net Sales (000’s)
    324,446       337,887       341,274       335,168       303,401       297,806  
Total Cost of Sales (000’s)
    297,585       308,507       307,414       307,883       280,316       267,539  
Gross Margin from all operations (000’s)
    26,861       29,380       33,860       27,285       23,085       30,267  
       
Gross Margin from all operations as a percent of Total Net Sales
    8.28 %     8.70 %     9.92 %     8.14 %     7.61 %     10.16 %
Total Selling, General and Administrative Expenses (000’s)
    15,463       14,009       8,567       14,658       13,425       13,953  
     
Total Selling, General and Administrative Expenses as a percent of Total Net Sales
    4.77 %     4.15 %     2.51 %     4.37 %     4.42 %     4.69 %
Operating Income from all operations (000’s)
    11,398       15,371       25,293       12,627       9,660       16,314  
       
Operating Income from all operations as a percent of Total Net Sales
    3.51 %     4.55 %     7.41 %     3.77 %     3.18 %     5.48 %
 
Avian Influenza Reimbursement (000’s)
                                   
 
Vitamin Settlements (000’s)
                                   
   
Total Adjustments (000’S)
                                   
Consolidated Adjusted Chicken and Turkey Operating Income (000’s)
    11,398       15,371       25,293       12,627       9,660       16,314  
   
Consolidated Adjusted Chicken and Turkey Income as a percent of Total Net Sales
    3.51 %     4.55 %     7.41 %     3.77 %     3.18 %     5.48 %
(a)  The acquisition of WLR Foods has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since January 27, 2001, the acquisition date.
(b)  14 week Quarter.
(c)  Certain item previously classified under Mexico have been reclassified under sale of other products-Mexico.
  Amounts reclassified by quarter were:   $     $     $     $     $     $