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Hormel Foods Corp

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BUSINESS
August 16, 2002 | Bloomberg News
Hormel Foods Corp. said fiscal third-quarter profit rose 15% as gains in grocery products such as Spam luncheon meat offset weaker turkey and pork sales caused by excess supplies. Net income for the three months ended July 27 rose to $38.3 million, or 27 cents a share, from $33.2 million, or 24 cents, a year earlier, the company said. Sales fell 4.4% to $933.8 million from $977 million. The results matched analysts' expectations. Austin, Minn.-based Hormel's shares rose 3 cents to $21.
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BUSINESS
October 31, 2007 | From Times Wire Services
Hormel Foods Corp. and Cargill Inc. told Washington lawmakers that using carbon monoxide to make aging meat look fresh cut waste and was safe, and that concerns from consumer groups were unwarranted. Although the Food and Drug Administration says the treatment is safe, food-safety activists say it's deceptive. "We're making sure the shelf life of that product can be realized for ourselves and our customers," Scott Eilert, vice president for research and development for Wichita, Kan.
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BUSINESS
November 24, 2005 | From Associated Press
Pork and turkey processor Hormel Foods Corp. said fiscal fourth-quarter profit climbed 17% because of a strong market for turkey meat, lower feed costs and improved production. Net income rose to $81.7 million, or 59 cents a share, from $69.8 million, or 50 cents, a year earlier. Revenue increased 10% to $1.48 billion, lifted largely by acquisitions. Analysts predicted earnings of 57 cents a share and $1.51 billion in sales, according to Thomson Financial.
BUSINESS
November 24, 2005 | From Associated Press
Pork and turkey processor Hormel Foods Corp. said fiscal fourth-quarter profit climbed 17% because of a strong market for turkey meat, lower feed costs and improved production. Net income rose to $81.7 million, or 59 cents a share, from $69.8 million, or 50 cents, a year earlier. Revenue increased 10% to $1.48 billion, lifted largely by acquisitions. Analysts predicted earnings of 57 cents a share and $1.51 billion in sales, according to Thomson Financial.
BUSINESS
February 1, 2001 | Associated Press
The food company that gave the world Spam is teaming up with General Motors Corp. to use pork and turkey byproducts to help make car parts. Financial terms were not disclosed. Hormel Foods Corp. will supply GM with a binding agent made from the animal protein collagen. The binder will be used to form sand molds used for casting metal parts, said Joel Johnson, Hormel's president, chairman and chief executive.
BUSINESS
July 26, 1995 | From Reuters
The makers of Spam canned lunch meat have taken umbrage at Spa'am, an unsavory wild pig who portrays "evil in porcine form" in a new Muppet movie. Hormel Foods Corp., which makes Spam, has sued Jim Henson Productions in Manhattan federal court, alleging that the film company "tarnished" its trademark and "falsely disparaged" Spam products.
BUSINESS
December 31, 2004 | Julie Tamaki, Times Staff Writer
Spam Dogs? Hormel Foods Corp., which makes the iconic canned luncheon meat, said Thursday that it had purchased Vernon-based Clougherty Packing Co., producers of Dodger Dogs and Farmer John brand meats, for $186 million in cash. The marriage of pork-product purveyors is expected to help Austin, Minn.-based Hormel meet production needs and strengthen the company's presence in California and the Southwest, particularly among the region's growing Latino population, Hormel executives said in a statement.
BUSINESS
January 11, 1998 | Dow Jones
Hormel Foods Corp. has signed an agreement with Irvine-based El Torito Restaurants Inc. to market Mexican food products under the El Torito and El Torito Grill brands. Terms weren't disclosed. Hormel said Friday that the products will include salsas, sauces, salad dressings and taco kits. Hormel Foods, based in Austin, Texas, already has a similar agreement with Chi-Chi's Restaurants.
BUSINESS
August 18, 1995 | Times Staff and Wire Reports
Hormel Forms Mexican Venture: The Austin, Minn.-based meat-processing company said its Hormel Foods International Corp. unit formed a joint venture with one of Mexico's largest producers of canned and bottled food products, Grupo Herdez, to sell Hormel products in Mexico. Hormel said fiscal third-quarter earnings rose 4.3%, beating analysts' estimates. Hormel Foods Corp.
BUSINESS
December 31, 2004 | Julie Tamaki, Times Staff Writer
Spam Dogs? Hormel Foods Corp., which makes the iconic canned luncheon meat, said Thursday that it had purchased Vernon-based Clougherty Packing Co., producers of Dodger Dogs and Farmer John brand meats, for $186 million in cash. The marriage of pork-product purveyors is expected to help Austin, Minn.-based Hormel meet production needs and strengthen the company's presence in California and the Southwest, particularly among the region's growing Latino population, Hormel executives said in a statement.
BUSINESS
May 21, 2004 | From Bloomberg News
Hormel Foods Corp., maker of Spam luncheon meat and Jennie-O Turkey, said fiscal second-quarter profit rose 59% on sales of its Always Tender refrigerated meat entrees and on higher turkey prices. Net income rose to $53.7 million, or 38 cents a share, from $33.8 million, or 24 cents, a year earlier, the Austin, Minn.-based company said. Sales rose 14% to $1.14 billion.
BUSINESS
July 31, 2003 | Marisa Lagos, Times Staff Writer
It's a case of Spam vs. spam. It would seem hard to confuse the trademark canned meat with junk e-mail. But Hormel Foods Corp. thinks otherwise. Hormel, which markets the canned meat Spam, has taken issue with SpamArrest's request to trademark its name. The Seattle-based software and Internet company, whose product blocks unwanted unsolicited commercial e-mails for subscribers, filed for two international trademarks in early 2002. This year, the Austin, Minn.
BUSINESS
August 16, 2002 | Bloomberg News
Hormel Foods Corp. said fiscal third-quarter profit rose 15% as gains in grocery products such as Spam luncheon meat offset weaker turkey and pork sales caused by excess supplies. Net income for the three months ended July 27 rose to $38.3 million, or 27 cents a share, from $33.2 million, or 24 cents, a year earlier, the company said. Sales fell 4.4% to $933.8 million from $977 million. The results matched analysts' expectations. Austin, Minn.-based Hormel's shares rose 3 cents to $21.
BUSINESS
February 1, 2001 | Associated Press
The food company that gave the world Spam is teaming up with General Motors Corp. to use pork and turkey byproducts to help make car parts. Financial terms were not disclosed. Hormel Foods Corp. will supply GM with a binding agent made from the animal protein collagen. The binder will be used to form sand molds used for casting metal parts, said Joel Johnson, Hormel's president, chairman and chief executive.
BUSINESS
May 18, 1999 | GREG HERNANDEZ, TIMES STAFF WRITER
Salsas, salad dressings, enchilada sauces and seasonings bearing the El Torito restaurant name make their debut this week in Ralphs supermarkets and will be shipped to other major chains in Southern California within a month. The Irvine-based restaurant chain said Monday that it has signed an agreement with Hormel Foods Corp., which will produce, distribute and market 18 El Torito products. If the items sell well, the line could be expanded and distributed outside the region, the companies said.
BUSINESS
October 31, 2007 | From Times Wire Services
Hormel Foods Corp. and Cargill Inc. told Washington lawmakers that using carbon monoxide to make aging meat look fresh cut waste and was safe, and that concerns from consumer groups were unwarranted. Although the Food and Drug Administration says the treatment is safe, food-safety activists say it's deceptive. "We're making sure the shelf life of that product can be realized for ourselves and our customers," Scott Eilert, vice president for research and development for Wichita, Kan.
BUSINESS
May 21, 2004 | From Bloomberg News
Hormel Foods Corp., maker of Spam luncheon meat and Jennie-O Turkey, said fiscal second-quarter profit rose 59% on sales of its Always Tender refrigerated meat entrees and on higher turkey prices. Net income rose to $53.7 million, or 38 cents a share, from $33.8 million, or 24 cents, a year earlier, the Austin, Minn.-based company said. Sales rose 14% to $1.14 billion.
BUSINESS
January 11, 1998 | Dow Jones
Hormel Foods Corp. has signed an agreement with Irvine-based El Torito Restaurants Inc. to market Mexican food products under the El Torito and El Torito Grill brands. Terms weren't disclosed. Hormel said Friday that the products will include salsas, sauces, salad dressings and taco kits. Hormel Foods, based in Austin, Texas, already has a similar agreement with Chi-Chi's Restaurants.
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