Tyson’s Profit Rises 75% in Quarter
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From Bloomberg News
Tyson Foods Inc.’s fiscal fourth-quarter profit jumped 75% as the meat processor benefited from the beef business acquired with its purchase last year of IBP Inc.
Net income rose to $84 million, or 24 cents a share, from $48 million, or 22 cents, a year earlier, Tyson said.
Per-share profit rose less than net income because the company issued more stock.
Tyson’s revenue rose 15% to $5.76 billion.
Shares of Springdale, Ark.-based Tyson rose 33 cents to $11.21 on the New York Stock Exchange.
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