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Smithfield Declares $167.7M Q4 Profit
NEW YORK - Jun 3/05 - SNS -- Smithfield Foods, Inc. reported a U.S. $167.7 million operating profit on sales of $2,923.3 million during the fourth quarter ending May 1, compared to earnings of $142.4 million on sales of $2,522 million during the same quarter of the previous fiscal year.
This lifted the company's year end operating profit to $582 million on sales of $11,354.2 million, compared to a final result of $368.1 million on sales of $9,267 million the previous fiscal year.
Smithfield explained the fourth quarter earnings include $4.4 million, or $.03 per diluted share, received in a legal settlement. Including the gain on sale of Schneider Corporation and earnings from discontinued operations, last year's fourth quarter was $122.7 million, or $1.09 per diluted share.
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