Tyson Foods Inc. of Springdale posted a profit of $160 million for its first fiscal quarter, or 42 cents per share, compared to a loss of $102 million, or 27 cents per share, during the same quarter last year.

According to Thomson Reuters, analyst expectations were about 18 cents per share.

The company reported that all its operating segments were profitable. Operating income for chicken was $78 million, or about 3.2 percent of sales; for beef it was $119 million, or 4.4 percent of sales; pork was $62 million or 7.6 percent of sales; and the prepared foods division was $55 million, or 7.7 percent of sales.

Quarterly revenue rose to $6.64 billion from $6.52 billion. Meanwhile, the company cut $400 million from its total debt, which now stands at $1.9 billion.

The profit rebound came on improved operating efficiencies for beef and pork, as well as lower grain costs for its chicken, the company reported in a news release.

"Beef, pork and prepared foods continued to execute well, and chicken began to show the improvement we've been working toward for more than a year," Donnie Smith, Tyson's president and CEO, said. "Our team members did a great job of staying focused and making progress week after week. We're developing momentum that I believe will continue through the year and into 2011."

"Consumers are still worried about the economy and unemployment," Smith said in a conference call about the earnings, "although our research indicates they're starting to feel a little better about their economic situation."

The world's largest meat processor has been dogged by higher grain costs and oversupply in its chicken business.

Looking ahead to 2010, Smith said he expected improvement in grain costs.

"We also currently expect to see grain costs down as compared to fiscal 2009. Additionally, we will continue to focus on making operational improvements to help maximize our margins," Smith said.
The company is still digesting recent international acquisitions, but expects those operations to continue to improve.

Shareholders elected nine people to Tyson Foods' board of directors at the company's annual shareholder's meeting in Springdale Friday.

The board includes six independent directors and three family members. Don Tyson, Chairman John Tyson, Lloyd V. Hackley, Jim Kever, Kevin M. McNamara, Robert Thurber, Brad T. Sauer, Barbara A. Tyson and Albert C. Zapanta.

Thurber, 62, is the only new director. He is the former vice president of purchasing for Sysco Corp. and held various executive positions with Sysco from 1983 until he retired in 2007. According to his corporate bio, he helped Sysco obtain a foothold in the fresh produce business and "helped increase the company's fresh produce revenues from $14 million in 1983 to $3.5 billion in 2007."

Thurber is experienced in company acquisitions and specialty meat and produce distribution. He is also a board member of for Capstone Bancshares Inc. of Tuscaloosa, Ala.