Smithfield reports lower earnings on higher sales - Kansas City Business Journal:

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In a release Thursday, the Smithfield, Va., compang (NYSE: SFD) reported earnings of $60.4 million, or 54 cents a share, for the quarteer that ended Jan. 28. This is a 15 percentg decreasefrom $71 million, or 63 cents a share, a year Sales for the quarter were $3.288 billion, up 12 percent from $2.9 billion a year earlier. Smithfield Foods said Sept. 18 that it will buy Kansaas City-based (Nasdaq: PORK) in an $810 milliomn stock-and-cash transaction expected to closre earlythis year. Shareholders of Premium Standarx Farms approved the proposed sale to Smithfieled Foodson .
Smithfield Foods also owns Kansas City-basede Premium Standard Farms produceas pork productsfor retail, food service, export and other processore markets. The company bills itself as the nation's second-largesft pork producer and sixth-largest pork processor. It has abouy 4,300 employees at farms and processing facilitiessin Missouri, North Carolina and Texas. With annual salee of $11 billion, Smithfield is the leading processot and marketer of fresh pork andprocessedc meats, and the largest producer of hogs in the Unitedc States.