Smithfield Foods posts 4Q loss of $4.6 million

SMITHFIELD, Va. (AP) - Smithfield Foods the nation's largest hog producer and pork processor says its losses narrowed to $4.6 million, or 3 cents per share, with the price for feed relatively low and demand rising.

The company also says offered to buy outright its Butterball LLC joint venture for $200 million.

When adjusted for one-time events, including tax changes and a mark-to-market adjustment of derivative positions, the company said Thursday it earned 18 cents per share. Analysts polled by Thomson Reuters were expecting 16 cents a share.

Smithfield last year reported fourth-quarter losses of $81 million, or 57 cents per share, when all producers were hit hard by high feed costs and fears over the H1N1 virus.

The company reported revenue of $2.9 billion for the quarter ended May 2, up 2 percent.