(Dow Jones) -- Tyson Foods Inc. said its fiscal first-quarter earnings climbed 47%, led by sales growth in its prepared-foods business.
The chicken producer said it expects overall domestic protein production--which includes chicken, beef, pork and turkey--to increase by about 1% in the current fiscal year.
It projected sales for the year of about $36 billion, slightly above analysts' recent estimate of $35.75 billion.
The company has focused on growing operations in China, improving prepared-foods sales through acquisitions and launching new products. In the past 12 months, the company acquired food companies in Utah, California and most recently, Bosco's Pizza ...