Land O'Lakes, which now completely owns Moark, including the facility that received a light slap on the hand from the Missouri Department of Natural Resources Monday, had a great 2005, according to documents filed today with the Securities and Exchange Commission.
The company had net sales of $7.6 billion and net earnings of $128.9 million, according to the document.
That picture would have been even better had it not been for the company's egg laying business done through Moark. The documents indicate Moark had a full-year pretax loss of $31.8 million. For the fourth quarter, the loss was $4.2 million.
The problem, Land O'Lakes officials say "can be attributed to a 23 percent decline in average egg prices year over year. Egg prices averaged approximately 72 cents per dozen over 2005, as compared to 91 cents per dozen in 2004."
The documents said sales for 2005 for Moark were $407 million, with fourth quarter sales of $119.9 million.