Tyson Foods Inc.

The acquisition of IBP Inc. a year ago helped Tyson Foods Inc. enjoy an increase in fourth-quarter profits, the Springdale company announced during its conference call Nov. 11.

Tyson Foods said earnings for the quarter ended Sept. 28 were 24 cents a share, up from 22 cents from the same period in 2001. It credited gains from its IBP beef operations, which offset lower poultry sales and prices.

Tyson Foods sales for the quarter were $5.76 billion, compared to $5.02 billion in the fourth quarter of 2001. Tyson acquired IBP Sept. 28, 2001.

Steve Hankins, CFO of Tyson Foods, said the company is projecting revenue for fiscal 2002 of $24 billion. And the company continues to pay down its debt-to-capital ratio by 50 percent at the end of the year.

Tyson Foods closed six production facilities in 2002 and has sold its Mallard’s Foods and Specialty Foods divisions. Meanwhile, it did purchase a bacon-processing facility in Omaha, Neb., that gives it 15 percent of that market.

“As with any integration you have to make decisions on production,” John Tyson said. “We’ve discontinued our non-productive product lines. We’re gonna sell those things that we don’t need or that don’t fit and we’re gonna buy those things that do fit our needs. We won’t to continue to be a one-stop shop for our beef, pork and chicken customers.”