Other directors, whose terms continue to future years, are: John H.
In other action at the annual meeting, stockholders approved, in a
non-binding advisory vote, the compensation of the Company's Named
Executive Officers; ratified the selection of Ernst & Young LLP as the
Company's independent auditors for the fiscal year ending
In his remarks to stockholders concerning the Company's operations,
"Sanderson Farms reached annual net sales of
"We look forward to the opportunities ahead in fiscal 2017, especially
as we move our new
This press release includes forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995, as amended. Forward-looking statements
are based on a number of assumptions about future events and are subject
to various risks, uncertainties and other factors that may cause actual
results to differ materially from the views, beliefs, projections and
estimates expressed in such statements. These risks, uncertainties and
other factors include, but are not limited to those discussed
under "Risk Factors" in the Company's Annual Report on Form 10-K for the
(1) Changes in the market price for the Company's finished products and feed grains, both of which may fluctuate substantially and exhibit cyclical characteristics typically associated with commodity markets.
(2) Changes in economic and business conditions, monetary and fiscal
policies or the amount of growth, stagnation or recession in the global
(3) Changes in the political or economic climate, trade policies, laws and regulations or the domestic poultry industry of countries to which the Company or other companies in the poultry industry ship product, and other changes that might limit the Company's or the industry's access to foreign markets.
(4) Changes in laws, regulations, and other activities in government agencies and similar organizations applicable to the Company and the poultry industry and changes in laws, regulations and other activities in government agencies and similar organizations related to food safety.
(5) Various inventory risks due to changes in market conditions including, but not limited to, the risk that market values of live and processed poultry inventories might be lower than the cost of such inventories, requiring a downward adjustment to record the value of such inventories at the lower of cost or market as required by generally accepted accounting principles.
(6) Changes in and effects of competition, which is significant in all markets in which the Company competes, and the effectiveness of marketing and advertising programs. The Company competes with regional and national firms, some of which have greater financial and marketing resources than the Company.
(7) Changes in accounting policies and practices adopted
voluntarily by the Company or required to be adopted by accounting
principles generally accepted in
(8) Disease outbreaks affecting the production, performance and/or marketability of the Company's poultry products, or the contamination of its products.
(9) Changes in the availability and cost of labor and growers.
(10) The loss of any of the Company's major customers.
(11) Inclement weather that could hurt Company flocks or otherwise adversely affect its operations, or changes in global weather patterns that could impact the supply and price of feed grains.
(12) Failure to respond to changing consumer preferences.
(13) Failure to successfully and efficiently start up and run a new plant or integrate any business the Company might acquire.
Readers are cautioned not to place undue reliance on forward-looking
statements made by or on behalf of
Treasurer & Chief Financial Officer
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