Tyson reported third quarter and nine months fiscal 2012 results. Net income in the third quarter dropped to $73 million from $188 million in 2011, though operating income rose from $8.247 billion in 2011 to $8.308 billion this year.
“We produced solid results in our fiscal third quarter despite softer than expected domestic demand for protein,” said Donnie Smith, president and CEO of Tyson Foods. “I am especially pleased with the performance of our Chicken and Prepared Foods segments. Our Beef and Pork segments have been operating in very difficult market conditions that will result in our earnings for fiscal 2012 coming in lower than we previously projected.