Campbell Soup first-quarter profit falls, stands by 2013 outlook
(Reuters) - Campbell Soup Co (CPB.N) reported lower quarterly net earnings on Tuesday, hurt by charges related to its recent acquisition of Bolthouse Farms, and stood by its full-year forecast.
The soup company, which also makes Prego pasta sauce and V8 juice, said net profit fell to $245 million, or 78 cents per share, in its fiscal first quarter ended October 28, from $265 million, or 82 cents per share, a year earlier.
Excluding costs related to the Bolthouse deal and restructuring charges, earnings were 88 cents per share.
Sales rose to $2.34 billion from $2.16 billion.
The company said it still expects earnings of $2.51 to $2.57 per share in fiscal 2013 on sales growth of 10 percent to 12 percent.
(Reporting by Martinne Geller in New York; Editing by Jeffrey Benkoe)
- Israel keeps up Gaza assault; diplomats seek ceasefire |
- With sales sputtering, Apple's iPad looks to IBM alliance
- Rebels likely downed Malaysian jet 'by mistake': U.S. officials
- Islamic State crushes and coerces on march towards Baghdad
- Five held in China food scandal probe, including head of Shanghai Husi Food