Tyson Foods 2003 Annual Report Download - page 2

Download and view the complete annual report

Please find page 2 of the 2003 Tyson Foods annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 72

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72

1 letter to shareholders
6 on course
On the way to becoming
the world’s largest
producer and marketer
of chicken, beef and
pork, Tyson Foods
marked many
milestones in the
past two years.
8 people
Tyson Foods invests
in team members to
prepare for the future.
10 customers
Tyson’s “one face
to the customer”
strategy is about
building relationships.
12 food service
“Value beyond
the box” is why
foodservice operators
rely on Tyson Foods.
14 consumer products
Nearly 100 new
retail products
were introduced
in 2003 under the
Tyson brand.
16 international
Tyson International
is marketing Tyson
chicken, beef, pork
and prepared foods
across the globe.
18 core values
Tyson Foods strives to
operate with integrity
and trust in all we do.
21 financials
2003 financial highlights
TYSON FOODS, INC. 2003 ANNUAL REPORT
table of contents
Tyson Foods, Inc. [NYSE:TSN], founded in 1935 with headquarters in Springdale, Arkansas, is the world’s largest processor
and marketer of chicken, beef and pork and the second largest food company in the Fortune 500. Tyson Foods produces a
wide variety of brand name protein-based and prepared food products marketed in the United States and more than
80 countries around the world. Tyson Foods is the recognized market leader in the retail and foodservice markets it serves.
The Company has approximately 120,000 team members and 300 facilities and offices in 27 states and 22 countries.
in millions, except per share data 2003 2002 2001
Sales $24,549 $23,367 $10,563
Gross profit 1,744 1,817 903
Operating income 837 887 316
Income before income taxes and minority interest 523 593 165
Provision for income taxes 186 210 58
Net income 337 383 88
Diluted earnings per share 0.96 1.08 0.40
Shareholders’ equity 3,954 3,662 3,354
Book value per share 11.21 10.37 9.61
Total assets 10,486 10,372 10,632
Depreciation and amortization 458 467 335
Total debt 3,604 3,987 4,776
Cash provided by operating activities 820 1,174 511
Capital expenditures $ 402 $ 433 $ 261
Shares outstanding 353 353 349
Diluted average shares outstanding 352 355 222