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Animal Health News & Notes for May 17, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for May 17, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > Ridley Inc., a North American producer of formulated livestock feed, reported financial results for its fiscal third quarter ended March 31, 2002. The net loss for the third quarter of fiscal 2002 was C$ 0.6 million (US$ 0.4 million) compared with a profit of $4.0 million (US$ 2.5 million) in the third quarter of fiscal 2001. The strong operating performance in the animal nutrition businesses was offset by recognition of a $5.9 million loss associated with the sale of the European Cotswold swine genetics business, which was announced on May 10. Third quarter 2002 sales of C$ 184.5 million ($US 115.7 million) were essentially flat compared to the third quarter 2001 sales of C$ 183.8 million ($US 115.3 million). (company website) ****************************************************************** Company News Releases > Novartis received USDA approval for Percorten V to be used in the treatment of Addison’s disease (hypoadrenocorticism) in dogs. Novartis is launching a major educational campaign for veterinarians to help them better diagnose and understand the disease. Percorten V is desoxycorticosterone pivalate available as an injectable suspension. (DVM Newsmagazine) > Merial and the American Animal Health Association have teamed up to launch a new consumer education campaign on the importance of visiting
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May 17, 2002
Animal Health News & Notes for May 10, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for May 10, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > Henry Schein’s Medical Group, which serves primarily the physician office and alternate care markets, and now includes sales previously reported as Veterinary net sales, reported first quarter 2002 net sales of $231.4 million, an increase of 10.9% compared with combined Medical and Veterinary net sales in the prior-year first quarter. Sales to the Medical Group’s core physician and alternate care business during the first quarter of 2002 increased 15.3%, and sales to the Group’s Veterinary customers increased 7.8%. (Business Wire) > Church & Dwight Co., Inc. reported that for the first quarter 2002 the Lambert-Kay product lines, acquired from Carter-Wallace, essentially broke even. Consumer products sales increased 15.9% to $212.8 million, primarily due to the addition of the Arrid antiperspirant and Lambert Kay pet care businesses. In deodorizing and pet care, the Company decided to discontinue the Lambert Kay hardware line acquired from Carter-Wallace, which accounted for about $2 million in first quarter sales. The Company, however, continues to regard pet care as a major growth area, and gained further distribution for Arm & Hammer Crystal Blend, a premium scoopable cat litter utilizing baking soda and silica crystals. (Business Wire) > Central Garden & Pet Company announced financial
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May 10, 2002
Animal Health News & Notes for May 3, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for May 3, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > Aventis reported that sales for the first quarter 2002 for animal health division Merial rose 4% to 458 million euros ($400 million). This figure includes Merial’s poultry genetics business. (company website) > Alpharma reported that sales of its animal health division in the first quarter 2002 were $70.5 million compared to $118 million in 2001. Operating income was $2.9 million in the first quarter compared to $34.7 million in 2001. The first quarter of 2001 included $34.5 million in revenue and $20.9 million of operating income related to last year’s financial statement revision. As expected, first quarter revenues and operating income were negatively impacted by a change in business practices, the effect of which is substantially complete. Distributor inventory levels are approaching targeted levels. (company website) > Virbac Corporation, the US division of Virbac S.A., reported record sales and operating income results for the first quarter ending March 31, 2002. Net sales for the first quarter 2002 rose 6% to a record $15.9 million from $15.0 million for the 2001 corresponding quarter. Excluding the effect of an accounting change, first quarter 2002 sales would have risen 20%. Strong sales for Virbac’s veterinary products continued to drive growth. Sales
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May 3, 2002
Animal Health News & Notes for April 26, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for April 26, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > Akzo Nobel reported that animal health division Intervet continued its growth pattern, increasing sales and improving margins. Sales for the first quarter 2002 increased 7% to 275 million euros ($239 million). (Business Wire) > Bayer reported that first quarter 2002 sales for its animal health division were up 13% to 203 million euros ($177 million). The increase was due primarily to a strong upward trend in products for companion animals in North America. Operating income was 50 million euros ($44 million), a 127% increase over the first quarter of 2001. (company website) > Wyeth reported that first quarter 2002 revenues for its animal health division Fort Dodge were $161.5 million, a decrease of 1% over the comparable period in the prior year. The decline was primarily due to the continuing weakening in the global livestock markets, partially offset by sales of ProHeart 6. (company website) > Novartis reported that first quarter 2002 sales of its animal health division were CHF 252 million ($150 million), an increase of 5% over the first quarter of 2001. Operating income was CHF 42 million ($25 million), a decrease of 2% over the first quarter of 2001. The acquisition of Grand Laboratories in
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April 26, 2002
Animal Health News & Notes for April 19, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for April 19, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > Pfizer announced that in the first quarter 2002, Animal Health sales increased to $239 million, up 9% (up 14% excluding the impact of foreign exchange) compared to the same period in 2001. This performance reflected double-digit growth (excluding the impact of foreign exchange) in both the companion animal and livestock product lines, and in both the U.S. and international markets. Companion animal product Revolution and the livestock medicines Dectomax and RespiSure/Stellamune continued to show strong growth. (company press release) > Eli Lilly announced that worldwide sales of animal health division Elanco in the first quarter 2002 were $167.8 million, an increase of 2% when compared with the first quarter of 2001. Excluding the effect of exchange rates, sales grew by 5% for the quarter. (company website) > Schering-Plough reported that first quarter sales of animal health products were down 2% (up 1% when foreign exchange is excluded) to $150 million. (company website) > Colgate-Palmolive Company reported that, for the first quarter 2002, Hill’s Pet Nutrition (13% of company sales, or approximately $285 million) increased unit volume and sales by 4.0% and 2.5%, respectively. Excluding foreign exchange, sales increased 5% and operating profit increased 11%. Dollar operating profit increased
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April 19, 2002
Animal Health News & Notes for April 12, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for April 12, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > Nestle SA reported that its first-quarter sales rose 10% due to inclusion of a recently acquired pet food business and said it expects record profits this year. Sales for the first three months of the year were 21.3 billion Swiss francs ($12.8 billion), compared with 19.4 billion in the same period last year. The sales figure was boosted by the inclusion of U.S. pet food manufacturer Ralston Purina, which has been fully consolidated since Jan. 1. The petcare business showed strong growth of 88% from CHF 1,411 ($837 million) to CHF 2,653 ($1,575 million), reflecting the Purina acquisition, but also real internal growth of 2%. (AP) ****************************************************************** Company News Releases > Phibro Animal Health was granted a no-withdrawal label claim for its Terramycin feed additive for swine. The approval was granted by the FDA. (Feedstuffs) > The Butler Company announced the completion of the purchase of DVM Manager, a producer of practice management software for veterinarians. In addition to offering a full complement of animal health products and drug supplies, the acquisition of DVM Manager will allow Butler to expand its service offerings. DVM Manager is currently the third largest provider of Windows-based veterinary practice management software, which
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April 12, 2002
Animal Health News & Notes for April 5, 2002
****************************************************************** Brakke Consulting’s Animal Health News & Notes for April 5, 2002 Copyright © Brakke Consulting, Inc. ****************************************************************** Company Earnings Releases > Doane Pet Care Company reported results for its fourth quarter and fiscal year ended December 29, 2001. The Company reported a net loss of $7.0 million for its fourth quarter ended December 29, 2001 on net sales of $221.5 million, compared to a net loss of $9.5 million on net sales of $246.5 million for the fourth quarter ended December 30, 2000. Sales performance in the 2001 fourth quarter was impacted by the divestitures of Deep Run and Perham completed earlier in 2001. For the full year, the Company reported a net loss of $21.9 million on a 2.3% increase in net sales to $895.8 million, compared to a net loss of $4.9 million on net sales of $875.8 million for the previous fiscal year. After including the results of Arovit for the full year 2000 and excluding the Perham and Deep Run divestitures from both periods, net sales were essentially flat from fiscal 2000 to 2001. (PRNewswire) ****************************************************************** Company News Releases > Adisseo was officially created as an independent company, following the acquisition of Aventis’ animal nutrition activity by CVC Capital Partners Ltd., a leading European private equity investment company. Adisseo, with its new shareholder’s backing, has
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April 5, 2002
Animal Health News & Notes for March 29, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for March 29, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** Company News Releases > The USDA approved Fort Dodge’s patented feline immunodeficiency virus (FIV) vaccine for commercial production and veterinary use. Patents for the vaccine are held by the University of California and the University of Florida. The vaccine should be available to veterinarians by this summer. The newly approved vaccine is a killed vaccine made from an inactivated form of the FIV virus itself. The new vaccine is composed of virus strains from 2 different types of FIV, 1 from North America and 1 from Asia. In an efficacy trial, 67% of the vaccinated cats were protected against the virus, while 74% of the non-vaccinated cats became infected with FIV when exposed one year after vaccination. (company website) > Novartis Animal Health announced that ImmTech Biologics, its recently acquired US vaccine company, has received a conditional license for Treponema Bacterin from the USDA. Treponema Bacterin is the first vaccine available to combat digital dermatitis (heel warts) in dairy cattle. A 1996 USDA-APHIS study found that 47% of US dairy herds showed signs of heel warts in cattle. (company press release) > Merial announced that it plans to directly enter the equine OTC market in the US with Zimectrin (ivermectin), the leading
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March 29, 2002
Animal Health News & Notes for March 22, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for March 22, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** BRAKKE CONSULTING ANNOUNCES ADDITION OF NEW CONSULTANT Brakke Consulting is pleased to announce that Jay Lockhart has joined the firm as a Senior Consultant after completing a 33-year career with Ralston Purina (now renamed Nestle Purina PetCare after being acquired by Nestle, SA last December). Jay’s career included sales and marketing assignments in the livestock feed business, pet food, and litter products. Many of you probably have met Jay over the 25 years he represented and led Purina’s sales and marketing efforts in the veterinary market. He established Purina’s US veterinary sales organization, developed and managed Purina’s veterinary distributor organization, and was part of the senior leadership team that introduced Pro Plan brand pet foods and Purina therapeutic diets to the pet specialty and veterinary markets respectively. During his tenure with Ralston Purina, Jay was active in various industry-wide efforts and served on various task forces for the veterinary profession, and was twice elected to serve on the Board of Directors of the American Veterinary Distributors Association. Special areas of expertise include executive and sales force recruiting, sales force assessment and improvement, distribution planning, and distributor program development. Jay will be establishing a new St. Louis, MO office for Brakke Consulting. He
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March 22, 2002
Animal Health News & Notes for March 15, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for March 15, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > In 2001 Intervet International successfully continued its growth pattern of previous years with considerable sales gains and improved margins. The animal health business of Akzo Nobel closed the year 2001 with sales of EUR 1,096 million ($971 million). In 2001, Intervet placed a stronger focus on strengthening its presence in key country markets, notably the United States. Intervet expects further growth in the companion animal pharmaceuticals segment in the US. The spread of BSE in Western Europe and the foot and mouth disease (FMD) outbreak in the first half of 2001 put significant pressure on the European market. In total, nearly 20 new vaccine and pharmaceutical products were successfully launched during 2001. (company press release) > PETsMART, Inc. announced results for its fiscal fourth quarter and full year which ended February 3, 2002. The company reported fourth quarter 2001 net income of $29.7 million versus a net loss of $(27.2) million for the fourth quarter in 2000. For the fiscal year 2001, PETsMART generated net income of $39.6 million compared to a net loss of $(30.9) million for the fiscal year 2000, a year-over-year increase of $70.5 million. Sales for the fourth quarter of 2001 increased 21%
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March 15, 2002
Animal Health News & Notes for March 8, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for March 8, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Alpharma announced that its Animal Health Division reported revenues for the year 2001 were $335 million, an increase of 11% over the year 2000. Adjusted operating income was $33.4 million, a decrease of 32% over the previous year. For the quarter ended December 31, 2001, revenues were $66 million, a decrease of 27% over the prior year comparable period. The Division reported an adjusted operating loss in the fourth quarter of ($12.0) million, compared to a quarterly operating income of $13.9 million in 2000. Adjustments for the company as a whole were made for non-operational items including the acquisition of FH Faulding’s generics business, costs related to deleveraging activities, and reorganization and refocusing activities. Revenue and operating income in the fourth quarter declined primarily due to the Division’s decision to reduce special incentives beginning in that quarter; revenue in the Division for the full year was positively impacted by the inclusion of Roche’s medicinal feed additives business for the full year of 2001. (company press release) > Royal Canin reported sales of 488 million Euros ($420 million) for the year 2001, an increase of 14.8% on 2000. The company’s sales have increased by an average of almost
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March 8, 2002
Animal Health News & Notes for March 1, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for March 1, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Embrex announced fourth-quarter revenues for 2001 were $11.6 million, an increase of 15% over the same period in 2000. Fourth-quarter net income was $1.9 million, an increase of 4% over net income of $1.8 million for the same period in 2000, after a write-off of $0.2 million of unamortized leasehold improvements. Sales of Bursaplex in ovo bursal disease vaccine were up 43% over the fourth quarter of 2000, contributing to the revenue increase. For the year ended December 31, 2001, revenues were $44.7 million, a 15% increase over revenues of $38.8 million during the same period of 2000. Net income for the full-year 2001 rose 20% to $8.0 million from $6.6 million for the full-year 2000. (company website) > OurPet’s Company released financial results for the fourth quarter and year ended December 31, 2001. Fourth quarter sales were $1.56 million versus $1.83 million in the year-earlier period. Net income for the quarter was $77,295 versus $181,325 in the fourth quarter of 2000. For the full year, sales totaled $5.51 million, an increase of 5.9% over 2000 yearly sales of $5.21 million. 2001 net income of $93,770 compared to a loss of ($144,844). In the year 2001, OurPet
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March 1, 2002
Animal Health News & Notes for February 22, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for February 22, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Akzo Nobel reported that year-end 2001 sales for its animal health division Intervet were 1,096 million euros ($971 million), an increase of 7% over year-end 2000. The company closed the year on a record performance, and is reported to be earning margins in line with Akzo Nobel’s human healthcare business. (company website) > Heska reported financial results for the fourth quarter and year 2001. For the quarter, revenues increased 29% to $14.7 million, while net loss was $5.6 million compared with $5.5 million in the fourth quarter 2000. For the year, revenues were $48.3 million compared with $52.7 million in 2000. The prior year revenue included $3.2 million from two businesses that were sold in 2000 and $1.3 million from the sale of rights to one of the company’s products. The net loss in 2001 was $18.7 million compared with net loss of $21.9 million in the prior year. (company press release) > VCA Antech, Inc. reported financial results for its fourth quarter and year ended December 31, 2001. Revenue for the fourth quarter ended December 31, 2001 increased 12.4% to a record $96.0 million from revenue of $85.4 million in the same quarter last year. For
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February 22, 2002
Animal Health News & Notes for February 15, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for February 15, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** BRAKKE CONSULTING ANNOUNCES ADDITION OF A NEW CONSULTANT Brakke Consulting announced that Gilles Guillemette, DVM, has joined the firm as a Senior Consultant. Dr. Guillemette is a veterinarian who left practice in France in 1991. He progressed through several sales and marketing positions at Hill’s Pet Food and had senior responsibility for marketing to veterinarians in both Europe and the US. Gilles has been the President of an advertising agency and his own consulting group before joining Brakke Consulting. Special areas of expertise include strategic planning, marketing, market research, and international business. Gilles will be operating out of Kansas City office working closely with Richard Wilson. Gilles can be reached at 816- **************************************************************** Company News Releases > IGI, Inc. announced that it has entered into a definitive asset purchase agreement for the sale of substantially all of the assets of its companion pet products division to Vetoquinol U.S.A., Inc., an affiliate of Vetoquinol, S.A. of Lure, France. IGI’s companion pet products division produces and markets products under the names EVSCO Pharmaceuticals, Tomlyn and Luv Em. Under the terms of the asset purchase agreement, IGI will receive at closing cash consideration of $16.7 million. In addition, specified liabilities of IGI’s companion pet
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February 15, 2002
Animal Health News & Notes for February 8, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for February 8, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Novartis reported that sales for its animal health division for the full year 2001 were CHF 962 million ($573 million) a decrease of 7% from the prior year. Sales were affected by the economic slowdown and substantial inventory reductions at US companion animal veterinary clinics, as well as the impact of foot-and-mouth disease in the UK. Most other European countries reported good performances, as did Latin America and the Asia/Pacific region. Sales were lifted by the strongly growing vaccine and aquaculture businesses, and by sales of Tiamutin and Fortekor, the last posting double-digit growth. (company press release) > Pharmacia reported that sales for its animal health division for the fourth quarter 2001 were $125 million, a 7% increase over the comparable period in 2000. Sales for the year were $469 million, an increase of 6% over the year 2000. The increase in sales for the fourth quarter 2001 was led by the strong performance of the injectable antibiotic brands, Naxcel/Excenel. For the full year, the Naxcel/Excenel brands led the business’ growth, supported by strong contributions from the mastitis product line which includes the J-5 Vaccine. (company press release) > Virbac S.A. reported growth of 7.6% to reach 350
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February 8, 2002
Animal Health News & Notes for February 1, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for February 1, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Neogen Corporation announced that second quarter 2002 revenues were $10.7 million, the first time the Company’s quarter revenues have exceeded $10 million. Revenues were 19% greater than last year’s second quarter of $9.0 million. Revenues for the Company’s first six months were $20.4 million compared to $17.1 million in the prior year. Neogen’s operating profits for the quarter increased 46% compared to a year earlier. On a year-to-date basis, operating profits were 49% greater than last year. The Animal Safety Division’s growth was led by deliveries of the Company’s new D3 hypodermic needles. (company press release) > Tyson Foods reported first quarter 2002 sales were $5.86 billion compared to $1.77 billion last year. Earnings for the first quarter of fiscal 2002 were $126.9 million compared to $27.0 million for the same period last year. Chicken segment first quarter sales totaled $1.77 billion compared to $1.66 billion for the same period last year. Pork segment first quarter sales totaled $688.8 million compared to $38 million in the same period last year. Pork case ready sales totaled $49.3 million and international pork sales totaled $69.3 million. Beef segment first quarter sales totaled $2.55 billion. Beef sales for the same period
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February 1, 2002
Animal Health News & Notes for January 25, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for January 25, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > Pfizer reported that for the fourth quarter 2001, Animal Health sales increased 3% (7% excluding foreign exchange) to $301 million, compared to the same period in 2000. The improved performance reflected new promotional and distribution practices, various restructuring initiatives, and double-digit revenue growth of Rimadyl, Revolution, RespiSure and Dectomax. These benefits were partially offset by lost revenue from the divestiture of the feed-additive product line in 2000, and the impact of mad cow disease and foot and mouth disease in Europe. Excluding the feed-additive divestiture, revenues in the quarter grew 19% (23% excluding the impact of foreign exchange). For the full year 2001, animal health revenues were $1,022 million, a decrease of 3% over the year 2000. (company website) > American Home Products reported that fourth quarter sales 2001 for its animal health division Fort Dodge were $217 million, a decrease of 6% compared to the comparable period in 2000. Sales for the full year 2001 were $776 million, a decrease of 2% over the prior year. The decline in animal health revenues was due primarily to a general weakening in the livestock markets globally, and continuing concerns about foot-and-mouth disease and BSE. This was partially offset by
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January 25, 2002
Animal Health News & Notes for January 18, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for January 18, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** Company News Releases > Novartis has acquired U.S. biologicals firms Grand Laboratories Inc and ImmTech Biologics Inc, marking its entry into the world’s largest farm animal vaccine market. It did not give a purchase price. Novartis, whose animal health division had 2000 sales of 1.08 billion Swiss francs ($647.5 million), said the two firms, which target the cattle and pig health markets, had 2001 sales of $33 million. Novartis said in a statement the two firms complemented each other and had an “exciting” development portfolio in what it called important disease areas. (Reuters) > Doskocil Manufacturing Company, Inc. announced that it has reached agreement with its bondholders to significantly reduce the amount of its outstanding debt. The transaction, which was finalized on December 21, 2001, reduced the Company’s debt from $176 million to $58 million. Doskocil now operates as a private company. Doskocil’s holders of 10 1/8 percent notes due 2007 voted unanimously to exchange debt for minority ownership in the Company. The agreement also provided for the majority owner, Westar Capital. to make an additional investment in the Company. Further, Doskocil revised its senior credit facility in cooperation with its existing eleven-member bank group led by Bank of America (Dallas). (Business
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January 18, 2002
Animal Health News & Notes for January 11, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for January 11, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** Company Earnings Releases > FRANCE After a 10% drop in 1999 sales, Guyomarc’h recovered in 2001, with sales of 670.6 million euros ($607 million). The jump represents an increase of 586.2 million euros, 14% over 2000. Net operating profit rose to over 13.3 million euros, a gain of 3.3%, though net profit for the group dropped 4 million euros to 11.2 million. In mid-May, the company plans to change its name to Evialis, and will restructure into three main areas of activity: international nutrition consulting, animal health and feed. (Watt Feed E-news) **************************************************************** Company News Releases > Pfizer announced that the fluoroquinolone antibiotic Zeniquin (marbofloxacin) is now approved for treating skin and soft-tissue infections in cats. The drug was first approved for use in dogs in 1999. (company press release) > Marvin Sussman took over as president of Philipp Brothers Chemicals’ Phibro Animal Health division. Robert Querido has stepped down and plans to continue his involvement with the company, dividing his time between the company and a medical device company in Florida. Sussman joined Philipp Brothers Chemicals in 1971 and has served in various executive positions, including chief operating officer of Phillip Brothers and president of the Prince Agri Products subsidiary. (Watt
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January 11, 2002
Animal Health News & Notes for January 4, 2002
**************************************************************** Brakke Consulting’s Animal Health News & Notes for January 4, 2002 Copyright © Brakke Consulting, Inc. **************************************************************** Brakke Consulting is currently undergoing a server upgrade in order to better serve our clients. Please excuse any inconvenience or delays you may experience as we work to improve our computer capabilities. **************************************************************** Company Earnings Releases > ConAgra Foods, Inc., reported results for the first half of fiscal 2002, with sales of $14.9 billion, compared with $14.3 billion last year. Operating profit reached $1.1 billion, also matching that in the first half of fiscal 2001. During the second quarter, sales for the Meat Processing segment were $2.6 billion, down from last year as the company’s beef business lost sales due to a plant fire in December 2000. Profits improved for fresh poultry, beef and pork. For the first half of fiscal 2002, Meat Processing operating profits reached $171 million, up substantially from $110 million last fiscal year. (Wattnet Poultry) **************************************************************** The Alliance for Contraception in Cats and Dogs (ACCD) is sponsoring an “International Symposium on Nonsurgical Contraceptive Methods for Pet Population Control” on April 19-21, 2002 in Callaway Gardens, Pine Mountain, GA. A full speaker program representing many facets of this subject has been put together. Abstracts from other interested parties are encouraged. This will be a great opportunity to get updated
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January 4, 2002
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