Smithfield Foods posts 3Q loss of $103.1M

[March 12, 2009]  SMITHFIELD, Va. (AP) -- Smithfield Foods says it lost $103.1 million in the fiscal third quarter, but its adjusted results topped Wall Street's expectations.

The nation's largest hog producer and pork processor said Thursday its loss amounted to 72 cents per share for the period ended Feb. 1. That compares with a profit of $54.5 million, or 41 cents per share, a year earlier.

Excluding a 38 cents-per-share restructuring charge and other items, the Smithfield, Va.-based company says its loss from continuing operations was $21.4 million, or 15 cents per share.

It also says its revenue climbed 7 percent to $3.35 billion.

Thomson Reuters says analysts expected a loss of 27 cents per share on sales of $3.41 billion.

[Associated Press]

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