THE VIRGINIAN-PILOT Copyright (c) 1994, Landmark Communications, Inc. DATE: Thursday, October 27, 1994 TAG: 9410260542 SECTION: BUSINESS PAGE: D2 EDITION: FINAL SOURCE: (Staff) LENGTH: Short : 22 lines
WLR Food Inc., the Rockingham County chicken and turkey processor, said Wednesday that its first-quarter earnings jumped from $3.8 million in 1994 to $6.5 million, a 72 percent increase. Company President James L. Keeler attributed the growth to the efficiency of its new Moorefield, W.Va., chicken processing plant and its recent acquisition of Cuddy Farms turkey operations in North Carolina. Those added earnings more than made up for the $600,000 WLR spent during the quarter to defend itself from a hostile takeover by Arkansas-based Tyson Foods Inc. Earnings per share were 57 cents, compared to 35 cents per share during the same period last year, the company reported. by CNB