Grainnet

Springdale, AR—Tyson Foods, Inc. (NYSE:TSN), reported Nov. 23 a 4Q net loss of $455 million, down from a net income of $48 million in 4Q 2008; and full year net loss of $537 million.

Full Tyson Report

CEO Comments

"We have made tremendous progress in a relatively short period of time," said Leland Tollett, who on Thursday stepped down after serving 11 months as interim president and chief executive officer of Tyson Foods.

"I have complete confidence that the new management team will have a positive impact as the company moves forward."

"Our operating cash flow exceeded $1 billion in fiscal 2009, which helped us make progress on our debt level," said Donnie Smith, Tyson's new president and chief executive officer.

"All operating segments were profitable in the fourth quarter, with Beef, Pork and Prepared Foods within or above historical operating margin ranges, excluding the goodwill impairment.

"These three segments are operating very well, and measures are in place for more improvement in our Chicken segment.

"The team knows what to do, and now it's a matter of execution."

"Fiscal 2010 should be a much better year," according to Jim Lochner, Tyson's new chief operating officer.

"We think Beef, Pork and Prepared Foods will continue with a solid performance, and we expect the steps we've taken to improve Chicken will manifest themselves.

"Also, USDA data point to lower overall protein supplies, and there is potential for good demand improvement as the global economy recovers."

For more information, call 479-290-6111.

See Related Websites/Articles:

• Full Tyson Report
• Tyson Foods

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