|
 LITTLE ROCK, Ark. (AP) - Tyson Foods Inc., the world's largest meat processor, said Monday its first-quarter earnings dropped 19 percent to $39 million, and projected its annual earnings to be sharply lower than previously forecast. The company's shares slumped to a new 52-week low.
Tyson earned 11 cents per share for the quarter ending Dec. 31, down from 14 cents per share from the year-ago quarter. Sales were flat at $6.5 billion. The company had gains equal to 3 cents per share, including $12 million from antitrust litigation, $8 million from the sale of an interest in Specialty Brands Inc. and $3 million from closing a prepared foods plant.
Analysts surveyed by Thomson Financial had forecast earnings of 16 cents per share.
|