Campbell Soup Co. Reports Earnings

The Campbell Soup Company of Camden today reported diluted earnings per share of 49¢ for the second quarter, which ended January 27, 2002. Excluding costs of the previously announced Australian manufacturing reconfiguration, diluted earnings per share were 50¢, down 23% or 15¢ from the comparable period last year.

Net sales in the quarter increased 3% to $1.8 billion. For the quarter, wet soup shipments compared with one year ago were down 6% in the U.S. and up 4% internationally, resulting in a 3% worldwide decline. Net earnings for the quarter were $203 million. Excluding the impact of the Australian reconfiguration, net earnings for the quarter were $206 million, down 24% compared with a year earlier. For the first half of fiscal year 2002, net sales increased 6% to $3.5 billion.

Author: Business News New Jersey