THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Saturday, October 29, 1994 TAG: 9410290221
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
TYPE: Digest
LENGTH: Short : 24 lines
The Smithfield Companies Inc., the holding company that produces specialty food products like Smithfield Ham, reported a 121 percent increase in net income for the second quarter ended Sept. 30. Net income rose to $266,227, or $0.18 per share, this quarter compared to $120,493, or $0.08 per share for the same period last year. Smithfield's president and CEO, Richard S. Fuller, attributed the higher net income to favorable beef and pork prices and a strong performance from the corporation's foods and retail operations. Net sales improved 4.6 percent to $10.3 million this quarter compared to $9.9 million for the second quarter 1993. The Smithfield Companies Inc. operates units such as the Smithfield Ham and Products Co., V.W. Joyner & Co., Bunker Hill Foods and others. (Staff) by CNB