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  1. #1
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    AR: Tyson Foods Scales Back Annual Meeting

    http://www.nwaonline.net/articles/2007/ ... frills.txt

    Tyson Foods Scales Back Annual Meeting
    This article was published on Friday, January 19, 2007 7:11 PM CST in
    By Kim Souza
    The Morning News

    Tyson Foods Inc. said Friday the company's annual shareholder meeting will be a no frills event because of its disappointing financial results for fiscal 2006.

    The meeting is set for 10 a.m. Friday, Feb. 2, at the Northwest Arkansas Convention Center in Springdale and will be a sharp contrast to prior annual celebrations hosted by the world's largest meat company.

    Tyson Foods posted an annual loss of $196 million in fiscal year 2006 with total revenue of $25.5 billion. The company cited lower margins for its commodity products and beef export bans as some of the reasons for the loss.

    This year's event will not include a reception buffet for shareholders but will instead consist of a business meeting and a brief report from CEO Dick Bond. The company said the entire meeting should last roughly 30 minutes.

    "The last 12 months have been extremely challenging for protein companies and Tyson's earnings have reflected the industry conditions," said John McMillin, industry analyst with Prudential Equity Group of New York.

    He said since taking over as CEO, Bond has put in place a strategy designed to leverage Tyson's scale, drive demand, improve pricing, and streamline the supply chain.
    *

    "It is clear that Tyson today is a more focused organization with clear strategic objectives and is driven to deliver results," McMillin wrote in a recent e-mail.

    Despite conservative 2007 earnings estimates by the company which range from 50 to 80 cents per share, David Nelson, analyst with Credit Suisse cut his annual estimate on Tyson Foods to 45 cents on Wednesday. Nelson said rising corn and soybean meal costs will outpace the recent price gains seen in chicken. Nelson predicts that every 10 cent change in the price of corn Tyson will cut Tyson Foods earnings by 5 cents per share.

    Tyson Foods will reports its first quarter earnings for fiscal 2007 on Jan. 29.

    Bond predicted in November the company would post a profit in the first quarter which ended Dec. 31. He also forecast a sluggish second quarter, but said he expected to see improvements in the second half of the year.

    Shares of Tyson Foods (NYSE: TSN) closed Friday at $15.83, up 10 cents. For the past 52 weeks the share price has ranged from a $17.33 high to a $12.57 low.
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  2. #2
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    I don't buy Tyson anymore and I am sure alot of other Americans are not either.
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