SFDS.. beating estimates by 7 cents says it's comfortable with these high earnings through 1999.. I was a bit cautious about this stock but I think it's fine now.. SFDS has been an earnings play for the last 3 quarters, but I was concerned about the chart and possible earnings shortfall. It's an extremely fine long term/short term growth stock with good fundamentals. Not necessarily a daytrade, but easily a short term/intermediate hold.
6/10/98 - SMITHFIELD FOODS, INC. REPORTS RECORD FISCAL 1998 EARNINGS
SMITHFIELD, Va., June 10 /PRNewswire/ -- Smithfield Foods, Inc. (Nasdaq:SFDS ) today reported record earnings for the 1998 fiscal year, ended May 3, and for the fiscal fourth quarter. This marked the second consecutive year of record earnings.
Excluding a nonrecurring charge, net income for fiscal 1998 increased to $66.0 million, or $1.66 per diluted share, from $44.9 million, or $1.17 per diluted share, in fiscal 1997. Including the nonrecurring charge of $12.6 million ($.32 per diluted share), net income for fiscal 1998 was $53.4 million, or $1.34 per diluted share. Net income per share figures have been adjusted to reflect a 2-for-1 split of the Company's common stock effective on September 26, 1997.
|
