AUSTIN, Minn. — Hormel Foods said its fourth-quarter profit rose more than 50 percent, helped by lower ingredient costs even as sales slipped on lower meat prices and a continuing pullback in consumer spending.

The company called the quarter's sales "disappointing" and blamed the weak economy. However, it said sales of Hormel chili grew. It also said it expects better earnings next year.

The maker of Spam said it earned $103.9 million, or 77 cents per share, in the three months ending Oct. 25. Revenue fell 10 percent to $1.68 billion. According to Thomson Reuters, analysts predicted earnings of 68 cents per share on revenue of $1.82 billion.

PITTSBURGH — H.J. Heinz Co.'s second-quarter profit dropped 16 percent from last year, when the company's results were boosted by currency shifts.But the maker of ketchup, like most food companies, has benefited during the recession from consumers eating at home more often, sending sales higher.Fluctuating commodity prices and the dollar's value have posed some challenges for the company's profitability. Still, Heinz boosted its full-year earnings guidance, citing its strong results for the year's first half as well as the weakening dollar and plans to increase its marketing efforts.