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Tyson Foods Profits Up On Higher Meat Prices

Tyson Foods first quarter profit surged 86 percent and it gave a better-than-expected 2011 forecast as prices for pork and beef jump. All four of the company's segments were profitable, with pork income nearly triple a year ago due to higher prices and strong exports. Tyson said fiscal 2011 results may be similar 2010's $2.19 per share. Earnings at the world largest meat company were $298 million, or 78 cents per share, compared with $160 million, or 42 cents, a year earlier. The results include a $11 million gain, or 3 cents a share, for an investment sale. Revenue for the quarter was $7.61 billion versus an expected revenue of $7.15 billion.