Higher Sales, Lower Earnings Mark The End Of Hormel's Fiscal Year

摘要

Feed ingredient, beef and pork costs, as well as the decline of global financial markets, pressured Hormel Foods Corp. earnings during fiscal 2008. For the year ended Oct. 26, the Austin, Minn.-based company's net earnings were $285,500,000, equal to $2.11 per share on the common stock, compared with earnings of $301,892,000, or $2.20 per share, for fiscal 2007. Sales during fiscal 2008 were $6,754,903,000, up from $6,193,032,000 during the previous year.