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Smithfield Foods reports second-quarter profit

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Smithfield Foods Inc., world’s largest pork processor and hog producer, reported profit of 86 cents per diluted share for its fiscal 2011 second quarter, up from a loss of 17 per share during the same period last year.

The Smithfield-based company said net income for the second quarter, which ended Oct. 31, was $143.7 million, compared with a loss of $26.4 million the year befor

Second-quarter sales totaled nearly $3 billion, up 11 percent.

Fresh pork operating profit improved 156 percent during the quarter.


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