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Hormel Foods


Hormel Foods is a publicly traded company having a good stock performance result. Hormel Foods is a fortune 500 stock listed company trading under HRL.
 
Hormel Foods Corporation, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded food and meat products. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring quality, value-added brands to the global marketplace. For the past 5 years, Hormel Foods was named as one of the 400 Best Big Companies in America by Forbes magazine. The company enjoys a strong reputation among consumers, retail grocers, foodservice and industrial customers for products that are highly regarded for quality, taste, nutrition, convenience and value.

Hormel Foods International Corporation (HFIC), a wholly owned subsidiary in Austin, has established numerous joint venture and license agreements internationally that include Australia, China, Denmark, England, Japan, Korea, Mexico, Panama, the Philippines, Spain, and other nations. HFIC exports products to more than forty countries.

Hormel Foods Corporation, the multinational marketer of consumer-branded meat and food products, today reported fiscal 2006 first quarter net earnings of 69.3 million dollars, up 7 percent from earnings of 64.6 million dollars a year earlier. Diluted earnings per share for the quarter were .50 dollars this year compared to.46 dollars per share last year and sales totaled 1.4 billion dollars, up from 1.3 billion dollars in fiscal 2005.

Pretax earnings for the first quarter of fiscal 2006 included a 9.2 million dollars charge. Approximately 12 million dollars of this total is reflected in General Corporate Expense, and the balance within the segments. The effective tax rate was lower because of a 3.4 million dollars discrete tax benefit that was recognized in the first quarter. The combined effect of these items reduced earnings per share by 05.dollars.

Effective February 15, 2006, the company paid its 310th consecutive quarterly dividend. The annual rate is .56 dollars per share.
 
 
 
 
 

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