Seaboard earnings slip in third quarter

by Josh Sosland
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MERRIAM, KAS. — Net income of Seaboard Corp. in the three months ended Oct. 1 was $36,560,000, equal to $30.07 per share on the common stock, down 8% from $39,869,000, or $32.74 per share in the third quarter of 2010. Net sales were $1,476,718,000, up 33% from $1,111,813,000.

Third-quarter results for 2011 included a gain on the sale of power generating facilities totaling $1,500,000, or $1.23 per share.

In the nine months ended Oct. 1, Seaboard net income was $266,910,000, or $219.52 per share, up 48% from $180,251,000, or $146.93, in the same period in 2010. Net sales were $4,343,484,000, up 37% from $3,180,552,000.

For the nine months in 2011, the gain on the sale of power generating facilities was $52,923,000, or $43.53 per share.

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