Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, June 9, 1993                   TAG: 9306090059
SECTION: BUSINESS                    PAGE: B5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

REPORTED EARNINGS

Smithfield Foods, Inc., Smithfield, Va., parent of Valleydale Foods Inc. of Salem, on Tuesday reported net income in the fiscal year ended May 2 fell to $3.99 million, or 22 cents per share, from $21.6 million, or $1.37 per share, a year ago. The 1993 figures included a nonrecurring after-tax charge of $2.1 million, or 13 cents per share, from the closing of a meat processing plant in Baltimore, and income of $1.1 million, or 7 cents per share, from an accounting change.

Fourth-quarter net income was $536,000, or 2 cents per share, down from $2.99 million, or 19 cents per share, in the 1992 quarter.

Sales for the year were $1.1 billion, up from $1.05 billion a year ago. Sales in the quarter rose to $309.2 million from $234 million in the 1992 quarter.