date:May 15, 2014
With Chinas WH Group Limiteds blockbuster acquisition of Smithfield Foods, Inc. behind it, C. Larry Pope, Smithfields president and CEO said the merger is a big part of Smithfields success in its 2014 fiscal first quarter, ended March 30, 2014. Net income spiked to $105.3 million during the quarter compared to $18.2 million during the same period last year, on sales of $3,422.1 million vs. $3,326.9 million in the first quarter of 2013, an increase of 3 percent. Overall, operating profit and marg