010608 IBP Comfortable With Full-Year EPS ViewJune 6, 2001Dakota Dunes, SD - IBP Inc. said that it anticipates “strong” second-quarter results and remains “comfortable” with its prior per-share earnings expectations of $1.80 to $2.20 a share for the full fiscal year. The company's operating earnings before accounting adjustments for 2001 year-to-date through the second week of May are estimated at $114 million compared to $113 million in the same period one year ago. IBP said that its favorable projections are based on an improvement in margins. Improved trends are expected to continue into the second half of the year, IBP said. IBP, which is embroiled in a legal battle with former suitor Tyson Foods Inc., said its expects a ruling in a Delaware court case by June 20. IBP is trying to compel Tyson to uphold its merger agreement with the company.
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