Tyson’s 4th quarter profit rises

11-11-2008 | |

Tyson Foods, the world’s largest meat company, saw sales rise in its fiscal fourth quarter, as the company had gains from its beef and pork segments but continued to struggle with its poultry business.

The Springdale, Ark.-based company said Monday it earned $48 million, or 13 cents per share, in the three months ended Sept. 27, compared with $32 million, or 9 cents per share, a year earlier.

Analysts surveyed by Thomson Reuters, on average, expected a profit of 18 cents per share on revenue of $6.98 billion. Tyson sales rose $627 million to $7.20 billion.

The company said high grain costs dragged down the chicken segment, increasing $230 million in the quarter. The pork segment had its best-ever fourth-quarter operating margin of 7.5 percent.

Source: Associated Press

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