(RTTNews) - Meat products producer Tyson Foods Inc. (TSN: News ) on Monday posted a loss for the fourth quarter reflecting a non-cash goodwill impairment charge in its Beef segment. However, sales rose from last year and surpassed the Street view. Further, the company expects its segments to report solid performances for fiscal 2010.

The Springdale, Arkansas-based company's fourth-quarter net loss was $455 million or $1.22 per share, compared to a profit of $48 million or $0.13 per share in the year-ago quarter.

The latest quarter results encompassed a non-cash goodwill impairment charge in its Beef segment of $560 million or $1.50 per share. Excluding the goodwill impairment charge, 2009 fourth-quarter net income was $0.28 per share.

On average, 12 analysts polled by Thomson Reuters expected the company to post earnings of $0.26 per share. Analysts' estimates typically exclude special items.

Quarterly sales amounted to $7.21 billion, higher than the previous year's sales of $7.20 billion, and surpassed the $6.88 billion revenue consensus estimate of nine analysts polled by Thomson Reuters.

Segment wise, the company's Chicken products generated fourth-quarter sales of $2.65 billion, an increase from $2.38 billion reported a year ago. Segment operating income was $32 million, compared to a loss of $91 million incurred in the same quarter of last year, positively impacted by operational improvements, which included: yield, mix and live production performance improvements; additional processing flexibility; and reduced interplant product movement. Volumes increased 10.4%, and average price change was 0.6% higher.
Sales from the Beef products declined to $2.97 billion from $3.10 billion in the corresponding quarter of the previous year. The segment recorded an operating loss of $440 million, compared to a profit of $159 million in the prior-year quarter. Volumes grew 14.0%, while average price change was 16.0% lower.

Pork sales decreased to $865 million from $1.00 billion in the fourth quarter of fiscal 2008. Operating income dropped to $48 million from $75 million in the year-earlier quarter. Volumes increased 13.4%, while average price change decreased 23.8%.

Prepared food sales totaled $733 million, higher than the $717 million sales reported in the same quarter of last year. Operating income for the segment was $39 million, compared to a loss of $5 million in the three months ended September 27, 2008. Volumes advanced 11.7%, while average price change was 8.4% lower.

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