Tyson Foods Reports Quarterly Earnings of 65 Cents Per Share

Tyson Foods, Inc. (TSN) reported quarterly earnings per share of 65 cents, up from 35 cents per share a year earlier.

Tyson Foods reported sales of $7.4 billion for the third quarter of fiscal 2010, up 11.6% from a year ago, the company said in a statement.

"This was a fantastic quarter for Tyson Foods, with record earnings, sales and operating margin," said Donnie Smith, the company's CEO.

Tyson Foods also repurchased over $400 million of debt in the quarter, reducing the company's debt levels to the lowest since 2001.

The company benefitted from improved operating margins in its beef, pork and chicken segments.