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Nov 20 (Reuters) – Hormel Foods Corp reported higher
quarterly earnings on Tuesday as losses in the company’s hog
operations were offset by profit gains in other parts of the
business.
The seller of Spam canned ham, Hormel meats and Jennie-O
turkeys said net income had risen to $132.6 million, or 49 cents
per share, in the fourth quarter ended on Oct. 28 from $117.3
million, or 43 cents per share, a year earlier.
Net sales rose to $2.17 billion from $2.10 billion.
The company forecast fiscal 2013 earnings of $1.90 to $2.00
per share.
