To: ~digs who wrote (1980 ) 5/11/2008 5:04:30 AM From: ~digs Read Replies (1) | Respond to DAR - Darling International Inc. on Thursday reported record first quarter net income of $21.5 million, or $0.26 per share, for the first quarter ended March 29, 2008. Sales and results of operations of the first quarter as compared to the same period of the prior year are as follows: For the first quarter of 2008, the Company reported net sales of $202.0 million as compared to $138.6 million for the first quarter of 2007. Higher finished product prices and increased raw material volume accounted for the majority of the $63.4 million increase. Net income for the first quarter of 2008 increased to $21.5 million, or $0.26 per share, as compared to $9.6 million, or $0.12 per share, for the 2007 comparable period, for which the 2007 period included a $2.2 million gain on the closing of a transaction for sale of a judgment against a service provider. The $11.9 million increase in net income for the first quarter resulted primarily from higher finished product prices and increased raw material volume. Darling International Inc. Chairman and Chief Executive Officer Randall Stuewe said, "We are very pleased with our first quarter results, primarily driven by a favorable operating environment, including higher finished product prices and increased raw material volume. We will continue to use our strong balance sheet and remain focused on enhancing shareholder value." 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.
