Swift Foods, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 13, 2019 at 08:30 pm
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Swift Foods, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was PHP 12.748 million compared to PHP 12.944 million a year ago. Net loss was PHP 417,000 compared to net income of PHP 1.555 million a year ago. Basic loss per share was PHP 0.0002 compared to Basic EPS of PHP 0 a year ago. Basic loss per share from continuing operations was PHP 0.0002 compared to Basic EPS - Continuing Operations of PHP 0 a year ago. For the nine months, sales was PHP 39.247 million compared to PHP 38.745 million a year ago. Net loss was PHP 1.545 million compared to net income of PHP 3.838 million a year ago. Basic loss per share was PHP 0.0008 compared to basic earnings per share of PHP 0.002 a year ago.
Swift Foods, Inc. is engaged in the business of manufacturing, marketing, and distributing processed and canned meat products, poultry products and commercial feeds. The Company's agribusiness division produces and sells poultry products: live and dressed/ processed chicken. The Company's poultry production involves two processes: broiler growing operations and dressing/processing operations. Day-old chicks are bred in rented farms and contract growers' farms for about 32 days. Harvested broiler chickens are sent to the rented dressing plant for slaughtering/processing. The Company's contract growers provide services: housing for the birds that meet the Company's requirements and broiler specifications; labor for day-to-day operations of the farm; and overhead costs such as water, electricity, and fuel. The Company's poultry production facility consists of one broiler farm located in Tanay, Rizal.
SWIFT FOODS, INC. 
