Tyson Foods sees higher prices lifting 2011 sales

Reuters

NEW YORK (Reuters) - U.S. meat producer Tyson Foods Inc's second-quarter revenue rose more than expected on higher prices and the company forecast full year sales that topped Wall Street expectations.

Revenue was up 15.7 percent to $8 billion, beating the $7.54 billion expected by Wall Street.

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Tyson expects full year sales of more than $32 billion, primarily because of price increases aimed at mitigating rising raw material costs, beating the $31 billion Wall Street analysts on average are expecting, according to Thomson Reuters I/B/E/S.

Springdale, Arkansas-based Tyson Foods earned $159 million, or 42 cents per share, for the quarter, on par with last year's results.

(Reporting by Bob Burgdorfer and Phil Wahba; Editing by Derek Caney)