UPDATE: Sanderson Farms Posts Downbeat FQ4 Earnings

Sanderson Farms SAFM reported a rise in its fiscal fourth-quarter earnings. Sanderson's quarterly profit surged to $45.3 million, or $1.97 per share, from a year-ago profit of $9.3 million, or $0.41 per share. Its revenue climbed 12% to $727.1 million. However, analysts were expecting earnings of $2.22 per share on revenue of $718 million. Sanderson's operating margin widened to 9.9% from 2.4%. Sanderson shares closed at $70.75 yesterday.