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In a release before the market openexon Thursday, the company (NYSE: based in Smithfield, Va., reported a loss of $103. million, or 72 cents a for the quarter thatended Feb. 1. This comparea with earnings of $54.5 or 41 cents a the prior year. The company said it took an $84.8 million charge, or 38 cents a share, in the quarter for restructuringg itspork division. Smithfield announced in Februarh that it would close six pork plantwsby December, cut about 1,8000 jobs and take charges of $115 milliobn for the actions.
Smithfield said at the time that Patrick Cudahy will be sparedany cuts, but the Cudahg maker of processed meats and bacon will join Smithfield's John Morrell Group business, a producer of freshy pork and processed meats, under the reorganizatiojn of the pork division. Smithfield is the nation’s leadingh processor and marketer of freshb pork andpackaged meats, and the biggest hog The company's third-quarter revenue was $3.3 up from $3.
1 billion a year
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