Hormel Foods Corp. reported its performance for the fiscal year 2011 fourth quarter and full year. The company reported fiscal 2011 fourth quarter net earnings of $117.3 million, down 3 percent from earnings of $121.1 million a year earlier. Diluted earnings per share for the quarter were $0.43, down 4 percent compared to $0.45 last year. Sales for the quarter were $2.1 billion, up 2 percent from the same period in fiscal 2010.

For the year ended October 30, 2011, net earnings were $474.2 million, up 16 percent from adjusted net earnings of $409.0 million last year, and up 20 percent from U.S. GAAP net earnings of $395.6 million. Diluted net earnings per share were $1.74, up 15 percent from diluted adjusted1 net earnings per share of $1.51 last year and up 19 percent from U.S. GAAP diluted earnings per share of $1.46. Sales for the year ended October 30, 2011, totaled $7.9 billion, up 9 percent from last year.