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Business Description
Smithfield Foods, Inc. is in the meat processing and hog production business. The Company conducts its business through four segments: Pork, Beef, Hog Production Group (HPG) and Other, each of which is comprised of a number of subsidiaries. The Pork segment consists primarily of eight wholly or majority-owned United States fresh pork and processed meats subsidiaries. The Beef segment is composed primarily of two United States beef processing subsidiaries and the Other segment is comprised of the remaining international meat processing operations, primarily Poland and France, together with the Company's turkey production operations and its interests in turkey processing operations. The HPG segment consists primarily of hog production operations located in the United States and Poland. The Company had an International segment, which, following the sale of Schneider Corporation, was replaced by the Other segment.

Financial Information
For the 26 weeks ended 10/04, revenues rose 33% to $5.37 billion. Net income from continuing operations totaled $113.3M, up from $49.5 million. Revenues reflect sales from acquired businesses. Net income also reflects an improvement in gross margins due to higher live hog prices.