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.
2 comments:
Let's see, by the company's typical American corporate logic, then, all America needs to do is to pay $1.89 for a dozen eggs and everything will be fine.
In other words, the only option is to screw the American taxpayer.
Are they saying that people are eating the exact same amount of eggs now that they are lower in price?
Even gasoline prices don't work that way. If gas is .95 cents a gallon I buy MORE gas than if it is $2.10 a gallon.
My opinion is that their problems are the least of my worries. Moark can go jump in the Land O'Lakes.
So, which official at Moark has bought a yacht lately? At least one has had shady dealings in his past.
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