Land O'Lakes reported a $16.1 million loss for its Moark imprint during the second quarter of 2005, according to the current report filed today with the Securities and Exchange Commission.
At the same time as the company is preparing a large-scale expansion of its egg-growing facilities in the Neosho area, the company says its volume has improved since last year but "depressed egg prices had an adverse effect on dollar sales and earnings."
For the second quarter the company recorded $86 million in sales, down from $143.3 million in sales last year. The $16.1 million loss compared to a 7.6 percent profit the previous year.
For the first half of the year, sales totaled $192 million with a loss of $22.4 million, the report said, compared to sales of $319 million and a profit of $36.9 million through the first half of 2004.