posted a rise in second-quarter profit, thanks in part to an antitrust litigation settlement.
The company earned $72 million, or 20 cents a share, in the quarter ended March 29, compared with $65 million, or 18 cents a share, in the same quarter last year. The company said its earnings include a gain of $94 million, or 17 cents a share, received in connection with a vitamin antitrust litigation.
Analysts were expecting the company to break even during the quarter. In early March, the company also said it expected to break even for the quarter, excluding the litigation gain. Before that, it had expected to earn 10 cents to 14 cents a share.
Sales were flat at $5.8 billion. Beef-segment sales increased 7.5%, the Springdale, Ark.-based company said.
Shares of the company were down 0.1% at $9.36 early Monday.