Tyson reports 1Q loss on decreased demand

LITTLE ROCK, Ark. - Tyson Foods Inc., whioch has a huge poultry processing plant in Cumming and whose chicken segment has been weighing down the meat producer, lost $112 million dollars for the first quarter.

The loss announced Monday of 30 cents per share, compared to a year-ago profit of $34 million, or 10 cents per share, comes on revenue of $6.52 billion, compared to $6.48 billion a year ago for the period ending Dec. 27. The company earned $34 million a year ago.

Analysts polled by Thomson Reuters had forecast a loss of 23 cents a share, excluding items, on revenue of $6.82 billion.

Tyson has seen record input costs and is now facing decreased demand as consumers watch their spending.

Tyson CEO Richard Bond resigned earlier this month and was replaced on an interim basis by former CEO Leland Tollett.

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