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Hormel Foods Reports $51.8 Million Quarter
AUSTIN - Feb 19/04 - SNS -- Hormel Foods Corporation today reported its performance for the fiscal 2004 first quarter ended January 24, 2004.
reported net earnings of $51.8 million during the first quarter ending January 24, up 10% from $46.9 million during the comparable quarter the previous year.
Earnings per share were $.37 versus $.34 (prior year includes 2 cents of net earnings from non-recurring items) in the fiscal 2003 first quarter. Sales totaled $1.1 billion, up from $1.0 billion in the same period last year.
"Exceptional demand for our value-added pork and turkey products resulted in better-than-expected performance in the first quarter," said Joel W. Johnson, chairman of the board, president and chief executive officer.
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