LITTLE ROCK, Ark. — Tyson Foods Inc., the world’s largest meat company, announced Monday it plans to expand its foreign business. The news came as the company reported a profit for its fourth quarter but forecast earnings for this year below what analysts were expecting.

Tyson shares fell below the stock’s 52-week low in trading Monday.

The company cited cost-cutting for an improved performance in the July-September period but said cost pressures will rise this fiscal year.

Tyson pledged to improve revenues in its international business from $3 billion to $5 billion. The expansion will focus on Latin America and China.

The company says it is looking for ways to increase its Mexico market presence, as well.  Tyson already has joint-venture businesses in China to supply pork and chicken.

“Our global strategy is to target countries where we see the consumption of protein growing rapidly,” said Rick Gruebel, president of Tyson’s international division. “This includes gaining access to new markets as well as expanding business with our existing international customers.”

Further, Tyson announced it would open a biofuel plant at an existing industrial site in Louisiana as part of a previously announced joint venture with Tulsa, Okla.-based Syntroleum Corp. to produce fuel from animal fat.

The company also said it is moving forward with a project with ConocoPhillips to convert animal fat into diesel fuel. Production is to start next month, with Tyson providing fat from an Amarillo, Texas, beef plant to a ConocoPhillips refinery in Borger, Texas.

The company projected it will earn between 30 cents per share and 70 cents per share for fiscal 2008. Analysts polled by Thomson had expected earnings of $1.05 per share.

Tyson Foods President and Chief Executive Officer Richard L. Bond said the beef market will be volatile in the coming fiscal year.

“I do believe at some point in time we will get trade re-established,” Bond said, referring to the slow resumption of beef exports to the Far East, after mad-cow disease scares interrupted regular business.

Tyson Chairman John Tyson said in Lincoln last month there will be another round of cutting back costs in the beef industry.

In Nebraska, Tyson has beef and other meat processing operations in Columbus, Dakota City, Lexington, Madison, Norfolk, Omaha, West Point and York.

Bond said the company is well-positioned for the long term, in beef and other segments, after cutting costs this year.

“Not only are we back on course, Tyson is a stronger, more streamlined company,” Bond said in a conference call with analysts.

Bond noted that Tyson’s $2.8 billion debt balance is the lowest since Tyson acquired meatpacker IBP Inc. in 2001 for $4.7 billion. Tyson had debt of $4.1 billion immediately after the acquisition.

Analyst Jonathan P. Feeney of Wachovia Securities wrote in a research note that Tyson’s outlook may be improving, but that he wants to see the evidence in the company’s profits.