Tyson Foods (NYSE:TSN) said today it swung to a profit in its fiscal fourth quarter.
Profits totaled $213 million, or $0.57 per share, compared to a loss of $457 million, or $1.23 per share, in the same quarter last year.
Adjusted earnings of $0.64 per share beat analyst expectations, although a revenue increase of 3%, to $7.44 billion, was not as much as analysts had expected.
The chicken, beef, pork and turkey producer competes with companies like Pilgrim’s Pride (NASDAQ:PPC) and Smithfield Farms (SFD). Tyson said the current quarter is shaping up to be a strong one, as is the 2011 fiscal year.
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