Tyson Foods (TSN) reported earnings of 57 cents per share for the fourth quarter of fiscal 2010, compared with a loss of $1.23 per share a year earlier.
The company reported goodwill impairment charges of 7 cents per share in the quarter, up from $1.50 per share a year earlier.
Sales rose to $7.4 billion, compared with $7.2 billion in the year-ago quarter. The strongest gains were in pork sales, which rose to $1.26 billion from $972 million a year ago.
For the full fiscal year, the company reported earnings of $2.06, compared with a loss of $1.47 for fiscal 2009. Sales rose to $28.4 billion from $26.7 billion.
"Our results this quarter and this year are directly due to our diversified protein business models and our operational improvements," said CEO Donnie Smith. ""We produced record sales and earnings despite some market headwinds."
Tyson Foods forecast capital expenditures of about $700 million for fiscal 2011.