(Reuters) - Tyson Foods Inc (TSN.N), the top U.S. meat producer, posted a higher-than-expected quarterly profit, as robust exports helped turn around its beef unit and higher prices lifted beef and pork.

The company said it was off to a strong start in its current quarter and that better export markets and higher prices for its prepared foods should help results for the current fiscal year, which began on October 3.

But the company also faces higher live cattle and hog prices.

Tyson buys the cattle and hogs that it processes into beef and pork, but raises its chickens.

The Arkansas-based company posted a fourth-quarter net income of $213 million, or 57 cents a share, compared with a loss of $457 million, or $1.23 a share, a year ago.

Excluding special items, Tyson earned 64 cents a share.

Revenue rose 3.2 percent to $7.44 billion.

Analysts on average had expected earnings of 56 cents a share, before special items, on revenue of $7.75 billion, according to Thomson Reuters I/B/E/S.

"We're just over halfway through our first quarter of fiscal 2011, and it is shaping up to be a strong quarter and another good year," CEO Donnie Smith said.

Shares of the company rose 4 percent in morning New York Stock Exchange trading to $16.29.

• Add new comment

Your name : *

Your e-mail address :*

Comment: *

Your Message Goes Here

CAPTCHA*

Save Comment