U.S. Soup Increased 2 PercentCampbell Reports Third Quarter Earnings Per Share At $.23; Shipments of U.S. Soup Increased 2 Percent for the Quarter
via COMTEX
May 15, 2002
CAMDEN, N.J., May 15, 2002 (BUSINESS WIRE) --
Campbell Soup Company (NYSE:CPB) today reported diluted earnings per share for the third quarter ended April 28, 2002, of $.23. Excluding the costs of the previously announced Australian manufacturing reconfiguration, diluted earnings per share were $.24, down 20 percent or $.06 from the comparable period last year. This is consistent with the company's February 13, 2002 announcement that it expected diluted earnings per share for the third quarter to be between $.21-$.24, excluding the impact of the Australian reconfiguration.
Net sales in the quarter increased 8 percent to $1,371 million. The following factors impacted sales growth: base volume and mix were flat, price added 1 percentage point and the European dry soup and sauces acquisition, completed in the fourth quarter of fiscal year 2001, added 7 percentage points.