USA: Smithfield Foods announces Q1 earnings drop
Hog producing giant Smithfield Foods has posted earnings of US$11.8m (US$0.11 per diluted share) for its Q1 2003, ended 28 July, a considerable drop from US$56.9m (US$0.53 per diluted share) a year ago, due to the impact of two unusual items adding US$1.2m after tax to net income in Q1 2002.
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