Darling International Inc. (DAR)

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Darling International Inc. Announces Second Quarter 2010 Results
Darling International Inc. (NYSE:DAR)
Intraday Stock Chart
Today : Friday 13 August 2010
Darling International Inc. (NYSE: DAR) today reported net income of $11.4 million, or $0.14 per share, for the second quarter ended July 3, 2010. Sales and results of operations for the second quarter as compared to the same period of the prior year are as follows:

For the second quarter of 2010, the company reported net sales of $166.2 million as compared to $155.3 million for the second quarter of 2009. Higher finished product prices and increased raw material volume accounted for the majority of the $10.9 million increase.

Net income for the second quarter of 2010 was $11.4 million, or $0.14 per share, as compared to $11.7 million, or $0.14 per share, for the 2009 comparable period. The $0.3 million decrease in net income for the second quarter resulted from increased operating costs and depreciation / amortization expense related to acquisitions and the company's investment into its renewable diesel joint venture project.

Darling International Chairman and Chief Executive Officer, Randall Stuewe, said, "Second quarter performance tracked the first quarter results and our business continues to operate solidly. Unseasonably warm temperatures detrimentally affected finished product quality which lowered net sales values and impacted earnings."

For the six months ended July 3, 2010, the company reported net sales of $329.0 million, as compared to $288.3 million for the 2009 comparable period. The $40.7 million increase in sales is primarily attributed to higher finished product prices and increased raw material volume.

For the six months ended July 3, 2010, the company reported net income of $22.8 million, or $0.28 per share, as compared to $16.5 million, or $0.20 per share, for the 2009 comparable period. The $6.3 million increase in net income for the six months ended July 3, 2010, resulted primarily from higher finished product prices and increases in both volume and yield of raw material.

Darling International will host a conference call to discuss the Company's second quarter 2010 financial results at 10:00 am Eastern Time (9:00 am Central Time) on Friday, August 13, 2010. To listen to the conference call, participants calling from within North America should dial 877-317-6789; international participants should dial 412-317-6789. Please refer to access code 443448. Please call approximately ten minutes before the start of the call to ensure that you are connected.

The call will also be available as a live audio webcast that can be accessed on the company website at http://www.darlingii.com/investors.aspx. Beginning one hour after its completion, a replay of the call can be accessed through August 20, 2010, by dialing 877-344-7529 domestically, or 412-317-0088 if outside North America. The access code for the replay is 443448. The conference call will also be archived on the Company's website.

Darling International Inc. is the largest publicly traded, food processing by-products recycling company in the United States. The Company recycles used restaurant cooking oil and by-products from the beef, pork and poultry processing industries into useable products such as tallow, feed-grade fats, meat and bone meal and hides. These products are primarily sold to agricultural, leather, oleo-chemical and bio-diesel manufacturers around the world. In addition, the Company provides grease trap collection services and sells equipment to restaurants.

For additional information, visit the Company's web site at http://www.darlingii.com.