UPDATE: Pilgrim's Pride Posts Q4 Profit

Pilgrim's Pride

posted a profit in the fourth quarter. Pilgrim's Pride posted a quarterly profit of $22.8 million, or $0.09 per share, versus a year-ago loss of $85.4 million, or $0.40 per share. Its sales climbed 20% to $2.19 billion. However, analysts were expecting a loss of $0.07 per share on revenue of $1.95 billion. Its gross margin rose to 3.4% from 1.1%. Pilgrim's Pride shares closed at $9.11 yesterday.