Tyson Foods (TSN $19.12 -0.33) reported forth quarter earnings of $0.26 per share, $0.05 worse than the Capital IQ Consensus Estimate of $0.31.
Revenues rose 12.9% year/year to $8.4 billion versus the $8.19 billion consensus.
Despite reduced production in the 4th quarter, sales volumes increased due to a reduction of volumes in ending inventory in 2011 as compared to 2010. For the 12 months, a 2.1% increase in slaughter pounds that mostly occurred in the first three quarters of fiscal 2011 and a reduction of volumes in ending inventory in fiscal 2011 as compared to fiscal 2010, primarily drove the 4.6% increase in sales volume for fiscal 2011.






