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Steadily scratching its way up the pecking order: despite challenges, Sanderson Farms reports robust fiscal year 2005.

Article Excerpt
LAUREL -- Sanderson Farms (NASDAQ: SAFM) plans to invest roughly $24 million in Collins to build a feed mill, expand its hatchery and make changes to the processing plant to accommodate an expansion and market shift for the complex.

The news comes on the heels of a successful annual meeting, during which Sanderson Farms CEO Joe Sanderson marked fiscal year 2005 as one of "significant growth and challenges."

"Obviously, a key measure of our performance is reflected in our financial results," Sanderson told the crowd of shareholders. "We're pleased to report strong financial results ... reflecting strong operating performance and a favorable product mix, and representing the second most profitable year in our company's history. For the second year in a row, our sales topped $1 billion, and net income for the year totaled $70.6 million, or $3.51 per diluted share. Our focus on our operations and our commitment to the integrity of our brand allowed us to again reward our shareholders with solid earnings."

Sanderson Farms leaders have put into motion a growth...

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