Tyson

(TSN) - Get Report

said it was "disappointed" with

IBP's

(IBP) - Get Report

revised estimates, but did not say how the new forecast would affect the pending

acquisition between the two, if at all.

In an announcement this morning, IBP, a meat processor, said it would earn 12 cents a share in the first quarter of 2001. A revised estimate posted by

First Call/Thomson Financial

has three analysts offering a consensus of 19 cents a share. Previously, the consensus stood at 53 cents a share, until analysts from

Credit Suisse First Boston

,

Midwest Research

and

Salomon Smith Barney

reduced their estimates.

For the year, IBP forecast earnings of $1.80 to $2.20 a share, which is above the $1.54 consensus estimate posted by First Call. The company said its number was "consistent" with a $1.93 estimate it made in a proxy statement last fall.

The Tyson deal is stalled because of

accounting discrepancies IBP has with the

Securities and Exchange Commission

. IBP's guidance today did little to impress the ruler of the processed chicken roost.

"While we are disappointed with the revised expectations for the first quarter, we are encouraged that IBP's management has confidence in future results," Tyson said in a statement.

IBP, which is based in Dakota Dunes, S.D., said an increase in livestock supplies should improve earnings for the rest of the year. IBP's fresh pork operations will benefit from lower raw material costs, executives said.

After being halted twice before noon on the

New York Stock Exchange

, IBP was down 6 cents, or 0.2%, to $23.94.