Debate Will Decide If Fred Thompson Can Be A Player For a man hailed by US conservatives only a few months ago as a potential saviour for Republicans in the 2008 presidential elections, Fred Thompson has hardly electrified the race since <a href=&... Read Full Article A Summer Camp Where Fireworks Are The Point Wholesome explosions don?t make the news lately, but Summer Explosives Camp provides a few as it also attempts to boost the ranks of explosives engineers.... Read Full Article A Wild Welcome To A German Teen-Pop Band Tokio Hotel is a German act that scrambles musical categories in a way that feels ideally suited to the current era.... Read Full Article Analysis: US Airstrikes Could Backfire The United States’ decision to bomb Islamists holed up in a corner of Somalia near the border with Kenya is a high-risk tactic which could ignite an Iraqi-style insurgency across a swathe of East Afri... Read Full Article Joint Chiefs Chairman Asks Pakistanis What They Need Adm. Mike Mullen arrived in Islamabad on Monday to emphasize America’s eagerness to help Pakistan in its fight against foreign terrorists and home-grown militants.... Read Full Article |
Tyson Foods Returns To ProfitFiled at 8:51 a.m. ET CHICAGO (Reuters) - Meat company Tyson Foods Inc. <TSN.N> on Monday reported a higher-than-expected quarterly profit and raised its earning estimate for the fiscal year. For the third quarter ended on June 30, Tyson earned $111 million, or 31 cents per share, compared with a year-earlier loss of $52 million, or 15 cents per share. The results topped analysts estimates, which averaged 25 cents a share, according to Reuters Estimates. Also on Monday, Tyson forecast fiscal-year earnings at 82 cents to 92 cents a share, up from its outlook in April of 65 cents to 90 cents. Analysts on average expected 85 cents, according to Reuters Estimates. Sales for the quarter rose to $6.96 billion from $6.38 billion. "Sales dollars, operating income, and operating margins are greatly improved in all four segments over the third quarter of 2006 as well as the second quarter of 2007," Chief Executive Richard Bond said in a statement. Sales volumes were down primarily due to planned production cuts and higher selling prices, Tyson aid. The Springdale, Arkansas-based company continued to benefit from a $200 million cost-cutting program launched last year, when it was losing money. Tyson also cited higher selling prices for chicken, which offset higher feed costs. The company raises the chickens it processes, but buys the cattle and hogs that it processes into beef and pork. The U.S. Department of Agriculture in late June put the average wholesale price for whole chickens at 80.60 cents per pound, up from a year-earlier average of 64.27 cents. (Reporting by Bob Burgdorfer) Tag CloudExternal InformationAdditional InformationApax scraps Tommy Hilfiger IPO...After Long Dispute, Two Apples Work It Out... GKN’s Smith is tipped for the top job at BAE... Virgin confirms Northern Rock bid... Where Am I?News Main Page - Business - Tyson Foods Returns To Profit |
i8news.com |