Tyson Off To A Good Start In Fiscal 2013; EPS Up 14% Over Prior Year

SPRINGDALE, Ark., Feb. 1, 2013 (GLOBE NEWSWIRE) -- Tyson Foods, Inc. (NYSE:TSN), today reported the following results:
(in millions, except per share data) First Quarter
  2013 2012
Sales  $ 8,402  $ 8,329
Operating Income 300 278
     
Net Income 168 156
Less: Net Loss Attributable to Noncontrolling Interest (5)
Net Income Attributable to Tyson  $ 173  $ 156
     
Net Income Per Share Attributable to Tyson  $ 0.48  $ 0.42

First Quarter Highlights
  • EPS was $0.48 compared to $0.42 last year
  • Overall operating margin was 3.6%
  • Net interest expense was $36 million, down 23% compared to last year
  • Returned $153 million to shareholders

-- Repurchased 5.1 million shares for $100 million

--   Paid $53 million in dividends, which included a $0.10 per share special dividend and 25% increase to quarterly dividend rate
  • Liquidity totaled $1.9 billion at December 29, 2012

"Fiscal 2013 is off to a good start," said Donnie Smith, president and chief executive officer of Tyson Foods. "With earnings of $0.48 per share in the first quarter, we are on our way to producing earnings this year better than fiscal 2012. We knew we'd face headwinds, and that has certainly been the case; however, we're not simply holding our own. We're producing solid results while preparing for growth.

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