Darling International Inc. News
Darling International Inc. Announces First Quarter 2008 Results
For the first quarter of 2008, the Company reported net sales of
Net income for the first quarter of 2008 increased to
Darling International Inc. Chairman and Chief Executive Officer
Darling International will host a conference call to discuss the Company's first quarter 2008 financial results at
The call will also be available as a live audio web cast that can be accessed on the company website at http://www.darlingii.com/investors/investors.asp or http://www.earnings.com. Following its completion, a replay of the call can be accessed until
Darling International Inc. is the largest publicly traded, food processing by-products recycling company in
For more information, please visit http://www.darlingii.com.
{This media release contains forward-looking statements regarding the business operations and prospects of Darling and industry factors affecting it. These statements are identified by words such as "may," "will," "begin," "look forward," "expect," "believe," "intend," "anticipate," "should", "estimate," "continue," "momentum" and other words referring to events to occur in the future. These statements reflect Darling's current view of future events and are based on its assessment of, and are subject to, a variety of risks and uncertainties beyond its control, including business and economic conditions in its existing markets and in global demands for grain and oilseed commodities and biofuels that could cause actual results to differ materially from those projected in the forward-looking statements. Other risks and uncertainties regarding Darling, its business and the industry in which it operates are referenced from time to time in the Company's filings with the Securities and Exchange Commission. Darling is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.}
FOR MORE INFORMATION CONTACT: John O. Muse, Executive Vice President of Finance and Administration, or Brad Phillips, Treasurer Phone: 972-717-0300 Darling International Inc. Consolidated Operating Results For the Periods Ended March 29, 2008 and March 31, 2007 (Dollars in thousands, except per share amounts) (Unaudited) Three Months Ended $ Change March 29, March 31, Favorable 2008 2007 (Unfavorable) Net sales $201,956 $138,612 $63,344 Costs and expenses: Cost of sales and operating expenses 146,296 103,244 (43,052) Selling, general and administrative expenses 14,701 12,581 (2,120) Depreciation and amortization 5,792 5,744 (48) Total costs and expenses 166,789 121,569 (45,220) Operating income 35,167 17,043 18,124 Other income/(expense): Interest expense (845) (1,633) 788 Other, net 167 (429) 596 Total other income/(expense) (678) (2,062) 1,384 Income from operations before income taxes 34,489 14,981 19,508 Income taxes (13,028) (5,401) (7,627) Net income $21,461 $9,580 $11,881 Basic income per share $0.26 $0.12 $0.14 Diluted income per share $0.26 $0.12 $0.14
SOURCE Darling International Inc.
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