Tyson Net Tops Estimates on Higher Demand for Chicken |
BusinessWeek - Feb 5, 2010 |
Tyson Foods Inc., the Arkansas-based processor of chicken, beef and pork, posted a fiscal first- quarter profit that topped analysts’ estimates amid higher revenue at its chicken and beef divisions.
Net income was $160 million, or 42 cents a share, compared with a net loss of $102 million, or 27 cents, a year earlier, Springdale-based Tyson said today in a statement. Analysts, on average, expected profit of 17 cents. Sales climbed 1.7 percent to $6.64 billion.
Tyson said volumes increased 7.2 percent at its beef division and chicken sales were helped by a 2.8 percent price increase. The company predicted prices for chicken would improve during the fiscal year, helped by cold storage inventories.
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- Posted: 2010-02-05 10:09:36
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