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Campbell Soup first-quarter profit falls, stands by 2013 outlook
November 20, 2012 / 12:51 PM / 5 years ago

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

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