-- 3rd quarter 2011 EPS was $0.51, as compared to $0.65 last year
-- This included a $21 million, or $0.05 per diluted share, reduction to
income tax expense related to a reversal of reserves for foreign
uncertain tax positions
-- Record Sales of $8.2 billion in the third quarter, up 10.9% compared to
last year
-- Overall Operating Margin was 3.8%
-- Chicken operating income $28 million, or 1.0% of sales
-- Beef operating income $140 million, or 4.0% of sales
-- Pork operating income $124 million, or 8.8% of sales
-- Prepared Foods operating income $30 million, or 3.7% of sales
-- We are increasing the normalized range for the Pork segment to 6--8%
-- Liquidity totaled $1.8 billion at July 2, 2011
SPRINGDALE, Ark, Aug. 8, 2011 (GLOBE NEWSWIRE) -- Tyson Foods, Inc. (NYSE:TSN), today reported the following results:
(in millions, except per share data) Third Quarter Nine Months
--------------- -----------------
2011 2010 2011 2010
------- ------ -------- -------
Sales $8,247 $7,438 $23,862 $20,989
Operating Income 312 507 1,113 1,165
Net Income 188 242 638 557
Less: Net Loss Attributable to
Noncontrolling Interest (8) (6) (15) (10)
------- ------ -------- -------
Net Income Attributable to Tyson $196 $248 $653 $567
Net Income Per Share Attributable to
Tyson $0.51 $0.65 $1.71 $1.49
-- Third Quarter and Nine Months Fiscal 2011 -- Included a $21 million, or
$0.05 per diluted share, reduction to income tax expense related to a
reversal of reserves for foreign uncertain tax positions.
-- Nine Months Fiscal 2011 -- Included an $11 million, or $0.03 per diluted
share, gain related to a sale of interests in an equity method
investment.
"We are pleased that our overall performance in the fiscal third quarter was about what we expected it to be," said Donnie Smith, president and chief executive officer of Tyson Foods. "The Pork segment's returns were above the new normalized range; the Beef segment was near the upper end of its range; and our Prepared Foods segment was just under its range.
"We feel good about our performance in the Chicken segment while experiencing extremely volatile input costs and market prices at or near historical lows. The fact that we remained profitable in such a difficult environment demonstrates how much our chicken business has improved in the past three years. There appears to be improvement in market fundamentals on the horizon, but the next few months will be very challenging, and it is likely our Chicken segment will experience a loss in the fiscal fourth quarter.
"My outlook for Tyson Foods remains positive. Our diversified business model, including our outstanding Beef and Pork segments, along with our strong balance sheet, will allow us to continue serving our customers through insights and innovations as we help them succeed in this economic environment, reinvesting in our business and buying back stock."
Segment Performance Review (in millions)
-------------------------------------------------------------------------------------
Sales
-------------------------------------------------------------------------------------
(for the third quarter and nine months ended July 2, 2011, and July 3, 2010)
-------------------------------------------------------------------------------------
Third Quarter Nine Months
---------------------------------- -----------------------------------
Avg. Avg.
Volume Price Volume Price
2011 2010 Change Change 2011 2010 Change Change
------- ------ --------- ------ ------- ------- --------- ------
Chicken $2,800 $2,527 0.5% 10.2% $8,158 $7,443 4.9% 4.5%
Beef 3,515 3,149 (1.7)% 13.5% 10,033 8,670 (0.5)% 16.3%
Pork 1,408 1,249 3.0% 9.4% 4,030 3,293 5.1% 16.4%
Prepared
Foods 804 753 (2.0)% 9.0% 2,388 2,200 (2.1)% 10.9%
Other 30 0 n/a n/a 63 0 n/a n/a
Intersegment
Sales (310) (240) n/a n/a (810) (617) n/a n/a
------- ------ --------- ------ ------- ------- --------- ------
Total $8,247 $7,438 (1.3)% 12.3% $23,862 $20,989 2.1% 11.4%
------- ------ --------- ------ ------- ------- --------- ------
-------------------------------------------------------------------------------------
Operating Income
-------------------------------------------------------------------------------------
(for the third quarter and nine months ended July 2, 2011, and July 3, 2010)
-------------------------------------------------------------------------------------
Third Quarter Nine Months
---------------------------------- -----------------------------------
Operating Margin Operating Margin
2011 2010 2011 2010 2011 2010 2011 2010
------- ------ --------- ------ ------- ------- --------- ------
Chicken $28 $186 1.0% 7.4% $246 $378 3.0% 5.1%
Beef 140 176 4.0% 5.6% 350 421 3.5% 4.9%
Pork 124 125 8.8% 10.0% 447 256 11.1% 7.8%
Prepared
Foods 30 22 3.7% 2.9% 89 114 3.7% 5.2%
Other (10) (2) n/a n/a (19) (4) n/a n/a
------- ------ --------- ------ ------- ------- --------- ------
Total $312 $507 3.8% 6.8% $1,113 $1,165 4.7% 5.6%
------- ------ --------- ------ ------- ------- --------- ------
Outlook
In the fourth quarter of fiscal 2011, we do not expect a significant change in the fundamentals of our Beef, Pork and Prepared Foods businesses. For Chicken, we expect weak market pricing conditions to continue as a result of an imbalance of available supply relative to customer demand. Current USDA data indicates reduced broiler egg sets and placements in the fourth quarter of fiscal 2011. However, we do not expect to see a meaningful impact of the reduced supply in our results until late in our fourth quarter of fiscal 2011 and continuing into fiscal 2012. Because of these factors, we expect our Chicken segment will likely experience a loss for the fourth quarter of fiscal 2011.
Our operational improvements and lower interest expense will continue to benefit us as we finish fiscal 2011 and head into fiscal 2012. In fiscal 2012, USDA data indicates overall domestic protein (chicken, beef, pork and turkey) production is expected to slightly decrease. Because exports are likely to remain strong, we forecast total domestic availability of protein to be down slightly compared to fiscal 2011, which should continue to support pricing. The following is a summary of the fiscal 2012 outlook for each of our segments, as well as an outlook on sales, capital expenditures, net interest expense, debt and share repurchases:
-- Chicken -- For fiscal 2012, we expect industry production will decrease
slightly from fiscal 2011 levels, which should gradually improve market
pricing conditions. Current futures prices indicate higher grain costs
in fiscal 2012 compared to fiscal 2011. We expect to offset a portion of
the increased grain costs with operational, pricing and mix
improvements.
-- Beef -- We expect to see a gradual reduction in fed cattle supplies of
1-2% in fiscal 2012 as well as exports to remain strong as compared to
fiscal 2011. Despite reduced domestic availability, we expect adequate
supplies in the regions we operate our plants. Based on these factors,
we expect the strong fundamentals in our Beef business to continue in
fiscal 2012.
-- Pork -- We expect hog supplies in fiscal 2012 to be comparable to fiscal
2011 and to be adequate in the regions in which we operate. We expect
pork exports to remain strong in fiscal 2012. Additionally, we increased
the normalized range for the Pork segment to 6--8%.
-- Prepared Foods -- Based on analysts' estimates, raw material costs will
likely increase in fiscal 2012. We expect operational improvements and
increased pricing to offset the likely increase in raw material costs.
Because many of our sales contracts are formula based or shorter-term in
nature, we are typically able to offset rising input costs through
increased pricing. However, there is a lag time for price increases to
take effect.
-- Sales -- We expect fiscal 2011 sales to exceed $32 billion mostly due to
price increases associated with the rising raw material costs.
-- Capital Expenditures -- We expect fiscal 2011 capital expenditures to be
approximately $650 million. While this is down from our previous
estimate, the anticipated projects are still ongoing, but were not able
to be completed in fiscal 2011 as previously expected. Our preliminary
capital expenditures plan for fiscal 2012 is similar to fiscal 2011.
-- Net Interest Expense -- We expect fiscal 2011 net interest expense will
be approximately $235 million. Based on our current debt levels, we
expect fiscal 2012 net interest expense will be approximately $200
million, down $35 million compared to fiscal 2011.
-- Debt -- We will continue to use our available cash to repurchase notes
when available at attractive rates. After we retire our 8.25% Notes due
October 1, 2011, of which the balance was $295 million at July 2, 2011,
we have no significant maturities of debt coming due over the next two
fiscal years (2012-2013). We plan to retire these notes with current
cash on hand and/or cash flows from operations.
-- Share Repurchases -- We expect to continue repurchasing shares under our
previously announced share repurchase plan. In the third quarter, we
repurchased 4.4 million shares for approximately $80 million. As of July
2, 2011, 18.1 million shares remain authorized for repurchases. The
timing and extent to which we repurchase shares will depend upon, among
other things, market conditions, liquidity targets, our debt obligations
and regulatory requirements.
Segment Performance
Review
------------------------
Chicken Segment Results
------------------------------------------------------------------------
in millions Three Months Ended Nine Months Ended
------------------------ ---------------------- ----------------------
July July July July
2, 3, 2, 3,
2011 2010 Change 2011 2010 Change
------------------------ ------ ------ ------ ------ ------ ------
Sales $2,800 $2,527 $273 $8,158 $7,443 $715
Sales Volume Change 0.5% 4.9%
Average Sales Price
Change 10.2% 4.5%
Operating Income $28 $186 $(158) $246 $378 $(132)
Operating Margin 1.0% 7.4% 3.0% 5.1%
------------------------ ------ ------ ------ ------ ------ ------
Third quarter and nine months of fiscal 2010
-- Includes $38 million gain from insurance proceeds.
Third quarter and nine months -- Fiscal 2011 vs Fiscal 2010
-- Sales and Operating Income --
-- Sales Volume -- Sales volume increased as a result of increased
production. We attempt to balance our supply with customer demand and in
the third quarter we cut production after customer demand fell short of
expectations. However, the impact of the production cuts on sales
volumes will not be realized until late in our fourth quarter.
-- Average Sales Price -- Average sales prices increased primarily due to
mix and pricing increases associated with increased input costs.
-- Operating Income -- Operating income was positively impacted by
increases in sales volume, average sales price and operational
improvements, which included: yield and mix; additional processing
flexibility; and reduced interplant product movement. These increases
were more than offset by increased costs of grain and feed ingredients
totaling approximately $250 million and $395 million for the third
quarter and nine months of fiscal 2011.
-- Derivative Activities -- Operating results included the following
amounts for commodity risk management activities related to grain and
energy purchases. These amounts exclude the impact from related physical
purchase transactions, which impact current and future period operating
results.
Income/(Loss) - in millions Qtr YTD
---- ---
2011 $(2) $72
2010 (5) (4)
---- ---
Improvement in operating
results $3 $76
Beef Segment Results
-------------------------------------------------------------------------
in millions Three Months Ended Nine Months Ended
------------------------ ---------------------- -----------------------
July July July
2, 3, July 2, 3,
2011 2010 Change 2011 2010 Change
------------------------ ------ ------ ------ ------- ------ ------
Sales $3,515 $3,149 $366 $10,033 $8,670 $1,363
Sales Volume Change (1.7)% (0.5)%
Average Sales Price
Change 13.5% 16.3%
Operating Income $140 $176 $(36) $350 $421 $(71)
Operating Margin 4.0% 5.6% 3.5% 4.9%
------------------------ ------ ------ ------ ------- ------ ------
Third quarter and nine months -- Fiscal 2011 vs Fiscal 2010
-- Sales and Operating Income --
-- We have maintained strong operating income by maximizing our revenues
relative to the rising live cattle markets, partially attributable to
strong export sales. This was offset by an increase in operating costs.
-- Derivative Activities -- Operating results included the following
amounts for commodity risk management activities related to forward
futures contracts for live cattle. These amounts exclude the impact from
related physical sale and purchase transactions, which impact current
and future period operating results.
Loss - in millions Qtr YTD
---- -----
2011 $(1) $(40)
2010 (9) (7)
---- -----
Improvement/(Decline)
in operating results $8 $(33)
Pork Segment Results
------------------------------------------------------------------------
in millions Three Months Ended Nine Months Ended
------------------------ ---------------------- ----------------------
July July July July
2, 3, 2, 3,
2011 2010 Change 2011 2010 Change
------------------------ ------ ------ ------ ------ ------ ------
Sales $1,408 $1,249 $159 $4,030 $3,293 $737
Sales Volume Change 3.0% 5.1%
Average Sales Price
Change 9.4% 16.4%
Operating Income $124 $125 $(1) $447 $256 $191
Operating Margin 8.8% 10.0% 11.1% 7.8%
------------------------ ------ ------ ------ ------ ------ ------
Third quarter and nine months -- Fiscal 2011 vs Fiscal 2010
-- Sales and Operating Income --
-- We maintained strong operating margins, and grew over the nine month
period, by maximizing our revenues relative to the live hog markets,
partially attributable to strong export sales and operational and mix
performance.
-- Derivative Activities -- Operating results included the following
amounts for commodity risk management activities related to forward
futures contracts for live hogs. These amounts exclude the impact from
related physical sale and purchase transactions, which impact current
and future period operating results.
Income/(Loss) - in millions Qtr YTD
---- -----
2011 $(6) $(15)
2010 0 (29)
---- -----
Improvement/(Decline) in
operating results $(6) $14
Prepared Foods Segment Results
----------------------------------------------------------------------
in millions Three Months Ended Nine Months Ended
------------------------ -------------------- ----------------------
July July July July
2, 3, 2, 3,
2011 2010 Change 2011 2010 Change
------------------------ ------ ---- ------ ------ ------ ------
Sales $804 $753 $51 $2,388 $2,200 $188
Sales Volume Change (2.0)% (2.1)%
Average Sales Price
Change 9.0% 10.9%
Operating Income $30 $22 $8 $89 $114 $(25)
Operating Margin 3.7% 2.9% 3.7% 5.2%
------------------------ ------ ---- ------ ------ ------ ------
Third quarter and nine months -- Fiscal 2011 vs Fiscal 2010
-- Operating margins were positively impacted by an increase in our average
sales prices, which were partially offset by an increase in raw material
costs. Additionally, we also had an increase in operating costs in
fiscal 2011. In the first nine months of fiscal 2010, we received $8
million in insurance proceeds related to the flood damage at our
Jefferson, Wisconsin, plant.
TYSON FOODS, INC.
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
(In millions, except per share data)
(Unaudited)
Three Months Nine Months
Ended Ended
-------------- ----------------
July July
2, 3, July 2, July 3,
2011 2010 2011 2010
------ ------ ------- -------
Sales $8,247 $7,438 $23,862 $20,989
Cost of Sales 7,716 6,686 22,054 19,144
------ ------ ------- -------
Gross Profit 531 752 1,808 1,845
Selling, General and
Administrative 219 245 695 680
------ ------ ------- -------
Operating Income 312 507 1,113 1,165
Other (Income)
Expense:
Interest income (2) (4) (8) (11)
Interest expense 58 102 187 282
Other, net (7) 14 (15) 14
------ ------ ------- -------
Total Other (Income)
Expense 49 112 164 285
------ ------ ------- -------
Income before Income
Taxes 263 395 949 880
Income Tax Expense 75 153 311 323
------ ------ ------- -------
Net Income 188 242 638 557
Less: Net Loss
Attributable to
Noncontrolling
Interest (8) (6) (15) (10)
------ ------ ------- -------
Net Income
Attributable to
Tyson $196 $248 $653 $567
====== ====== ======= =======
Weighted Average
Shares Outstanding:
Class A Basic 304 304 305 303
Class B Basic 70 70 70 70
Diluted 383 382 382 379
Net Income Per Share
Attributable to
Tyson:
Class A Basic $0.53 $0.68 $1.77 $1.55
Class B Basic $0.48 $0.61 $1.60 $1.39
Diluted $0.51 $0.65 $1.71 $1.49
Cash Dividends Per
Share:
Class A $0.040 $0.040 $0.120 $0.120
Class B $0.036 $0.036 $0.108 $0.108
Sales Growth 10.9% 13.7%
Margins: (Percent of
Sales)
Gross Profit 6.4% 10.1% 7.6% 8.8%
Operating Income 3.8% 6.8% 4.7% 5.6%
Net Income 2.3% 3.3% 2.7% 2.7%
Effective Tax Rate 28.7% 38.8% 32.8% 36.7%
TYSON FOODS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
(In millions)
(Unaudited)
July 2, October
2011 2, 2010
------- -------
Assets
Current Assets:
Cash and cash
equivalents $981 $978
Accounts receivable,
net 1,334 1,198
Inventories, net 2,711 2,274
Other current assets 146 168
------- -------
Total Current Assets 5,172 4,618
Net Property, Plant and
Equipment 3,802 3,674
Goodwill 1,895 1,893
Intangible Assets 158 166
Other Assets 461 401
------- -------
Total Assets $11,488 $10,752
======= =======
Liabilities and
Shareholders' Equity
Current Liabilities:
Current debt $362 $401
Trade accounts payable 1,193 1,110
Other current
liabilities 1,206 1,034
------- -------
Total Current Liabilities 2,761 2,545
Long-Term Debt 2,094 2,135
Deferred Income Taxes 393 321
Other Liabilities 457 486
Redeemable Noncontrolling
Interest 0 64
Total Tyson Shareholders'
Equity 5,752 5,166
Noncontrolling Interest 31 35
------- -------
Total Shareholders'
Equity 5,783 5,201
------- -------
Total Liabilities and
Shareholders' Equity $11,488 $10,752
======= =======
TYSON FOODS, INC.
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
Nine Months
Ended
-------------
July July
2, 3,
2011 2010
------ -----
Cash Flows From Operating Activities:
Net income $638 $557
Depreciation and amortization 384 372
Deferred income taxes 51 (4)
Other, net 34 116
Net changes in working capital (421) 42
------ -----
Cash Provided by Operating Activities 686 1,083
------ -----
Cash Flows From Investing Activities:
Additions to property, plant and
equipment (469) (404)
Purchases of marketable securities (121) (39)
Proceeds from sale of marketable
securities 42 34
Proceeds from notes receivable 51 0
Other, net 26 45
------ -----
Cash Used for Investing Activities (471) (364)
------ -----
Cash Flows From Financing Activities:
Payments on debt (197) (993)
Net proceeds from borrowings 83 17
Change in restricted cash to be used
for financing activities 0 140
Purchases of Tyson Class A common
stock (110) (42)
Dividends (45) (44)
Other, net 52 32
------ -----
Cash Used for Financing Activities (217) (890)
------ -----
Effect of Exchange Rate Change on Cash 5 1
------ -----
Increase (Decrease) in Cash and Cash
Equivalents 3 (170)
Cash and Cash Equivalents at Beginning
of Year 978 1,004
------ -----
Cash and Cash Equivalents at End of
Period $981 $834
====== =====
TYSON FOODS, INC.
EBITDA Reconciliations
(In millions)
(Unaudited)
Fiscal Twelve
Nine Months Year Months
Ended Ended Ended
-------------- ------- ---------
July July July
2, 3, October 2,
2011 2010 2, 2010 2011
------ ------ ------- ------
Net income $638 $557 $765 $846
Less: Interest income (8) (11) (14) (11)
Add: Interest expense 187 282 347 252
Add: Income tax expense 311 323 438 426
Add: Depreciation 327 311 416 432
Add: Amortization (a) 24 27 35 32
------ ------ ------- ------
EBITDA $1,479 $1,489 $1,987 $1,977
Total gross debt $2,536 $2,456
Less: Cash and cash
equivalents (978) (981)
Total net debt $1,558 $1,475
Ratio Calculations:
Gross debt/EBITDA 1.3x 1.2x
Net debt/EBITDA 0.8x 0.7x
(a) Excludes the amortization of debt discount expense
of $33 million and $34 million for the nine months ended
July 2, 2011, and July 3, 2010, respectively, and $46
million for the fiscal year ended October 2, 2010, as it is
included in Interest expense.
EBITDA represents net income, net of interest, income tax
and depreciation and amortization. EBITDA is presented as a
supplemental financial measurement in the evaluation of our
business. We believe the presentation of this financial
measure helps investors to assess our operating performance
from period to period and enhances understanding of our
financial performance and highlights operational trends.
This measure is widely used by investors and rating
agencies in the valuation, comparison, rating and
investment recommendations of companies. However, the
measurement of EBITDA may not be comparable to those of
other companies in our industry, which limits its
usefulness as a comparative measure. EBITDA is not a
measure required by or calculated in accordance with GAAP
and should not be considered as a substitute for net income
or any other measure of financial performance reported in
accordance with GAAP or as a measure of operating cash flow
or liquidity. EBITDA is a useful tool for assessing, but is
not a reliable indicator of, our ability to generate cash
to service our debt obligations because certain of the
items added to net income to determine EBITDA involve
outlays of cash. As a result, actual cash available to
service our debt obligations will be different from EBITDA.
Investors should rely primarily on our GAAP results, and
use non-GAAP financial measures only supplementally, in
making investment decisions.
Tyson Foods, Inc., founded in 1935 with headquarters in Springdale, Arkansas, is one of the world's largest processors and marketers of chicken, beef and pork, the second-largest food production company in the Fortune 500 and a member of the S&P 500. The company produces a wide variety of protein-based and prepared food products and is the recognized market leader in the retail and foodservice markets it serves. Tyson provides products and service to customers throughout the United States and more than 100 countries. The company has approximately 115,000 Team Members employed at more than 400 facilities and offices in the United States and around the world. Through its Core Values, Code of Conduct and Team Member Bill of Rights, Tyson strives to operate with integrity and trust and is committed to creating value for its shareholders, customers and Team Members. The company also strives to be faith-friendly, provide a safe work environment and serve as stewards of the animals, land and environment entrusted to it.
The Tyson Foods, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3224
A conference call to discuss the Company's financial results will be held at 9 a.m. Eastern Monday, August 8, 2011. To listen live via telephone, call 800-779-0488. The call leader's name and a pass code will be required to join the call. The leader's name is Ruth Ann Wisener and the pass code is Tyson Foods. International callers dial 630-395-0129. A telephone replay will be available at 800-568-6276. The live webcast, as well as the replay, will be available on the Internet at http://ir.tyson.com. Financial information, such as this news release, as well as other supplemental data, including Company distribution channel information, can be accessed from the Company's web site at http://ir.tyson.com.
Forward-Looking Statements
Certain information contained in the press release may constitute forward-looking statements, such as statements relating to expected performance, and including, but not limited to, statements appearing in the "Outlook" section. These forward-looking statements are subject to a number of factors and uncertainties which could cause our actual results and experiences to differ materially from the anticipated results and expectations, expressed in such forward-looking statements. We wish to caution readers not to place undue reliance on any forward-looking statements, which speak only as of the date made. Among the factors that may cause actual results and experiences to differ from anticipated results and expectations expressed in such forward-looking statements are the following: (i) the effect of, or changes in, general economic conditions; (ii) fluctuations in the cost and availability of inputs and raw materials, such as live cattle, live swine, feed grains (including corn and soybean meal) and energy; (iii) market conditions for finished products, including competition from other global and domestic food processors, supply and pricing of competing products and alternative proteins and demand for alternative proteins; (iv) successful rationalization of existing facilities and operating efficiencies of the facilities; (v) risks associated with our commodity purchasing activities; (vi) access to foreign markets together with foreign economic conditions, including currency fluctuations, import/export restrictions and foreign politics; (vii) outbreak of a livestock disease (such as avian influenza (AI) or bovine spongiform encephalopathy (BSE)), which could have an adverse effect on livestock we own, the availability of livestock we purchase, consumer perception of certain protein products or our ability to access certain domestic and foreign markets; (viii) changes in availability and relative costs of labor and contract growers and our ability to maintain good relationships with employees, labor unions, contract growers and independent producers providing us livestock; (ix) issues related to food safety, including costs resulting from product recalls, regulatory compliance and any related claims or litigation; (x) changes in consumer preference and diets and our ability to identify and react to consumer trends; (xi) significant marketing plan changes by large customers or loss of one or more large customers; (xii) adverse results from litigation; (xiii) risks associated with leverage, including cost increases due to rising interest rates or changes in debt ratings or outlook; (xiv) compliance with and changes to regulations and laws (both domestic and foreign), including changes in accounting standards, tax laws, environmental laws, agricultural laws and occupational, health and safety laws; (xv) our ability to make effective acquisitions or joint ventures and successfully integrate newly acquired businesses into existing operations; (xvi) effectiveness of advertising and marketing programs; and (xvii) those factors listed under Item 1A. "Risk Factors" included in our October 2, 2010, Annual Report filed on Form 10-K.
Q3 2011 Supplemental Information
This news release was distributed by GlobeNewswire, www.globenewswire.com
Tyson Foods, Inc.
CONTACT: Media Contact:
Gary Mickelson
479-290-6111
Investor Contact:
Ruth Ann Wisener
479-290-4235