Tyson Foods swings to profit

By IBTimes Staff Reporter | February 05 2010 8:24 AM

U.S. meat producer Tyson Foods Inc on Friday reported a larger-than-expected first quarter profit, helped by operating efficiencies for beef and pork and lower grain costs for its chickens.

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The Springdale, Arkansas-based company reported first-quarter earnings of $160 million, or 42 cents per share, compared with a year-earlier loss of $102 million, or 27 cents per share).

Wall Street analysts, on average, expected 18 cents, according Thomson Reuters I/B/E/S.

Revenue increased to $6.64 billion from $6.52 billion a year earlier.

(Reporting by Bob Burgdorfer; Editing by Derek Caney)

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