JBS posts losses for 2011

Brazilian meatpacker JBS S.A. reported red ink of nearly $42 million for 2011 amid losses by chicken producer Pilgrim’s Pride.

Consolidated net revenue for the company came in at nearly $34 billion for the year, which was 13 percent higher than 2010. For the fourth quarter alone, the company posted net revenue of nearly $9.3 billion, more than 18 percent higher than the same period the previous year.
Net income in the quarter came to $14 million, a big swing compared to a loss of nearly $37 million in the like period of 2010.
It…