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Tyson beats 4Q
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November 12, 2001: 9:39 a.m. ET
Nation's largest meat company beats quarterly estimates, misses on year.
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NEW YORK (CNN/Money) - Tyson Foods Inc. posted higher earnings Monday for its fiscal-fourth quarter, beating Wall Street expectations for the quarter but falling short of expectations for the year, in part due to charges related to its merger with IBP Inc.
For the quarter ended Sept. 29, Tyson, which completed its merger with IBP on Sept. 28, reported earnings of $47.5 million, or 22 cents a share excluding one-time items, compared with earnings of $18 million, or 8 cents a share for the year-earlier quarter. Analysts expected a profit of 20 cents a share, according to First Call.
Full-year earnings fell from the previous year to $87.8 million, or 40 cents a share, compared with earnings of 151.2 million, or 67 cents a share. Analysts expected a profit of 44 cents a share, according to First Call.
Fourth-quarter sales increased to $5 billion from $1.2 billion in the year-earlier quarter and rose to $10.8 billion in fiscal 2001 from $7.4 billion.
The company also raised its fiscal first-quarter earnings estimates to between 22 cents and 27 cents a share, and full-year 2002 earnings estimates to between 95 cents and $1.05 for the full year. Analysts polled by earnings tracker First Call were expecting first-quarter earnings of 18 cents a share and full-year earnings of 86 cents a share.
Tyson's (TSN: Research, Estimates) shares gained 27 cents at $2.67 Friday. 
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