Pilgrim's Corp. announced consolidated earnings results for the second quarter and six months ended June 24, 2012. For the quarter, the company reported net sales of $1,974,469,000 against $1,922,690,000 for the same period a year ago. Operating income was $99,261,000 against operating loss of $98,706,000 for the same period a year ago. Income before income taxes was $66,795,000 against loss before income taxes of $124,462,000 for the same period a year ago. Net income was $69,153,000 against net loss of $127,932,000 for the same period a year ago. Net income attributable to company's Pride Corporation was $69,358,000 against net loss attributable to company's Pride Corporation of $128,141,000 for the same period a year ago. Earnings per basic and diluted share were $0.27 against loss per basic and diluted share of $0.57 for the same period a year ago. EBITDA was $125,109,000 against LBITDA of $47,341,000 for the same period a year ago. Adjusted EBITDA was $125,703,000 against adjusted LBITDA of $47,550,000 for the same period a year ago. Net debt was reduced to $1.18 billion in the period, reflecting a year-to-date reduction in net debt of $248.0 million. The generated operating cash flows of $51 million despite an increase in inventories, due to a slowdown on the internal market and the changing regulation China during June, and the increase in live cock due to the increase in feed ingredient cost. The company invested $21 million in CapEx projects this quarter, well within its target spending range. For the six months, the company reported net sales of $3,863,242,000 against $3,815,166,000 for the same period a year ago. Operating income was $161,185,000 against operating loss of $205,482,000 for the same period a year ago. Income before income taxes was $107,046,000 against loss before income taxes of $254,229,000 for the same period a year ago. Net income was $108,751,000 against net loss of $247,827,000 for the same period a year ago. Net income attributable to company's Pride Corporation was $108,531,000 against net loss attributable to company's Pride Corporation of $248,901,000 for the same period a year ago. Earnings per basic and diluted share were $0.45 against loss per basic and diluted share of $1.11 for the same period a year ago. EBITDA was $226,629,000 against LBITDA of $101,702,000 for the same period a year ago. Adjusted EBITDA was $229,683,000 against adjusted LBITDA of $102,776,000 for the same period a year ago. The company also simultaneously announced the appointment of Dr. David E. Bell of Boston, Massachusetts to its Board of Directors effective from July 25, 2012. He is currently the George M. Moffett Professor of Agriculture and Business at Harvard Business School.