Excepting the affect of the Eu acquisition and currency, sales declined 3 p'cent and operating profits decreased 31 p'cent due to prepared speeds up in promoting investments to drive long-term maturation.
For the initial half of financial 365 days 2002,.
In The european union, base sales were down mildly vs . In
the 4th quarter of last 365 days, the business enterprise adopted new direction on
the category of shipping and handling costs. The tracking factors drove the rise:
-- Internet sales were reduced by $202 mil and $399 mil respectively.
"But still, in our broadest enterprise,. These results were predominately driven by the Eu acquisition. They contain "Campbell's" soups world wide, "Erasco" soups in Germany and "Liebig" soups in France, "Pepperidge Hacienda" biscuits and crackers, "V8" vegetable fruit drinks, "V8 Splash" juice beverages, "Gait" Mexican gravies, "Prego" Italian gravies, "Franco-American" canned pastas and sauces, "Swanson" broths, "Homepride" gravies within the Usa Empire, "Arnott's" cookies in Australia and "Godiva" chocolates around the globe. Enterprise Publishers
CAMDEN,.--(BUSINESS WIRE)--Feb.
CAMPBELL SOUP Business enterprise CONSOLIDATED
SUPPLEMENTAL Timetable OF SALES AND Profits (unaudited)
(millions, except for each share quantities)
6 months Finished
----------------
Jan Jan P'cent
27, 2002 28, 2001 Alter
-------- -------- --------
Sales
-----
Donations:
Northern The usa Soup and Away
At home $1,618 $1,626 0%
Northern The usa Gravies and
Beverages 632 613 3%
Cookies and Confectionery 807 792 2%
Multinational Soup and Gravies 482 305 58%
------ ------
Over all sales $3,539 $3,336 6%
====== ======
P'cent
Alter
Excepting
Special
Fees and penalties (1)
Profits -----------
--------
Donations:
Northern The usa Soup and
Away At home $ 445 $ 552 -19% -19%
Northern The usa Gravies and
Beverages 124 161 -23% -23%
Cookies and Confectionery 110 134 -18% -12%
Multinational Soup and Gravies 51 33 55% 55%
------ ------
Over all operating profits 730 880 -17% -16%
Unallocated corporate
expenditures (64) (57)
------ ------
Profits before interest and
taxes 666 823 -19% -18%
Interest, internet (98) (One hundred and one)
Taxes on profits (194) (247)
------ ------
Internet profits $ 374 $ 475 -21% -20%
====== ======
read what he said
Internet profits for each share - speculative
, 2001, the business enterprise
adopted new accounting criteria connected with the recognition,
measurement and hard cash declaration category of sure shopper
and commerce promotional expenditures, namely voucher redemption costs,
cooperative media programs and in-store display incentives.
. economic system.
-- Merchandising, general and executive expenditures were reduced by $258 mil
and $504 mil respectively. As a consequence, as follows reclassifications were made about the 2nd quarter and first half of financial 365 days 2001 fiscal statements:
-- Internet sales were reduced by $202 mil and $399 mil respectively.
-- Merchandising, general and executive expenditures were reduced by $258 mil
and $504 mil respectively. Factual results may differ materially from those anticipated or reported in any forward-looking declaration made by the business enterprise. Virtue improvements in "Campbell's Chunky" and "Campbell's Choose" soups aided direct the ready-to-serve speeds up. New commodities, consisting of "Grand Goldfish" hoagie crackers and "Dessert Pleasure" biscuits functioned well.
A listing of financial 365 days 2002 2nd quarter results by section comes Continue Reading after:
Northern The usa Soup and Away At home
. Pls refer about the firm’s latest Form 10-K and subsequent filings for a further dialog during these dangers and doubts. Internet profits for the initial half were $374 mil.
About Campbell Soup Business enterprise
Campbell Soup Business enterprise is actually a universal producer and advertiser of high virtue soup, gravies, beverage, cookies, confectionery and planned foodstuffs.
Sales for the quarter grown 2 p'cent to $319 mil. Excepting the affect of the Australian reconfiguration, internet profits for the quarter were $206 mil, down 24 p'cent vs .
Douglas R. 12 months earlier.
-- Merchandising, general and executive expenditures were reduced by $258 mil
and $504 mil respectively. The program code is Campbell Soup. rainy soup deliveries; the prepared elemental enhance in promoting investments throughout the profile;. soup, strong deliveries within the first quarter driven by prepared promoting investments and a humble enhance in pantry stock tracking 9-11, have been offset within the 2nd quarter by cut back deliveries, linked predominately to warm climate and the relaxing of the initial quarter construct in pantry stock. More specifically, whilst our ready-to-serve labels namely `Campbell's Chunky' and `Campbell's Select' kept on to demonstrate positive momentum, our compacted soups had a much weaker quarter. Though we aren't delighted by this performance, we are confident which as our amendment plan unfolds, we're going to refresh this crucial franchise.
Leonard F. soup, quite a few firm's consisting of Pepperidge Hacienda,. Internet profits for the quarter were $203 mil.
Forward-Looking Statements
This disclose consists "forward-looking statements" that reflect the business's existing anticipations about its up coming performance. The underside profits were partially offset by favourable temporary interest levels.
CAMPBELL SOUP Business enterprise CONSOLIDATED
SUPPLEMENTAL Timetable OF SALES AND Profits (unaudited)
(millions, except for each share quantities)
3 months Finished
------------------
Jan Jan P'cent
Sales 27, 2002 28, 2001 Alter
----- -------- -------- -------
Donations:
Northern The usa Soup and
Away At home $ 812 $ 852 -5%
Northern The usa Gravies and
Beverages 319 314 2%
Cookies and Confectionery 428 425 1%
Multinational Soup and Gravies 251 164 53%
------- -------
Over all sales $ 1,810 $ 1,755 3%
======= =======
P'cent
Alter
Excepting
Special
Profits Fees and penalties (1)
-------- -----------
Donations:
Northern The usa Soup and
Away At home $ 216 $ 294 -27% -27%
Northern Clicking Here The usa Gravies and
Beverages 65 89 -27% -27%
Cookies and Confectionery 76 89 -15% -10%
Multinational Soup and Gravies 28 19 47% 47%
------- -------
see Over all operating profits 385 491 -22% -21%
Unallocated corporate
expenditures (33) (31)
------- -------
Profits before interest and
taxes 352 460 -23% -23%
Interest, internet (45) (49)
Taxes on profits (104) (One hundred and forty)
------- -------
Internet profits $ 203 $ 271 -25% -24%
======= =======
Internet profits for each share - speculative
dilution $ .49 $ .65 -25% -23%
======= =======
Within the first quarter financial 2002 finished Oct 28, 2001, the business enterprise
adopted new accounting criteria connected with the recognition,
measurement and hard cash declaration category of sure shopper
and commerce promotional expenditures, namely voucher redemption costs,
cooperative media programs and in-store display incentives.
-- Internet sales were reduced by $202 mil and $399 mil respectively. Conant, President and Ceo, mentioned, "We're continuing to carry out the amendment plan we started out last July. Excepting the affect of currency, operating profits decreased 8 p'cent. Operating profits were $216 mil, down 27 p'cent, brought on by cut back capacities in compacted soup and the business's previously exclaimed plans to noticeably enhance promoting investments. Over all sales of "Goldfish" commodities were up, directed by "Grand Goldfish" crackers and the fresh "Goldfish" hoagie crackers.
For the quarter, deliveries of compacted soup declined 13 p'cent, deliveries of ready-to-serve soup grown 1 p'cent and deliveries of "Swanson" broth grown 3 p'cent.
-- Cost of goods sold went up by $56 mil and $One hundred and five mil
respectively. As a consequence, the
tracking reclassifications were made about the three month period finished
Jan 28, 2001, declaration of profits: Internet sales were reduced by
$202; Cost of goods sold was went up by $56; and Merchandising, general
and executive expenditures were reduced by $258. Participants have to call at the minimum five min earlier than the starting time. Soup Declined 6 P'cent for the Quarter and Were Even for the initial Half of Financial 365 days 2002. The wages wither was driven by a prepared enhance in promoting for "Prego" Italian gravies, "Gait" Mexican gravies and "V8" vegetable juice.
-- Cost of goods sold went up by $56 mil and $One hundred and five mil
respectively. `Prego' and `Pace' sauce firm's have delivered positive sales activities this 365 days. a 365 days earlier..
Cookies and Confectionery
Cookies and Confectionery sales for the quarter grown 1 p'cent to $428 mil. Excepting the affect of currency, sales grown 2 p'cent. Loudness maturation at Arnotts and Pepperidge Hacienda was offset by cut back sales at Godiva, predominately in Click This Link Northern The usa. 13,.
Conference Call
The business enterprise 're going to host a conference call to debate these results on Feb . Operating profits went up by 47 p'cent to $28 mil compared against $19 mil 12 months ago. The freshly attained Eu dry soup and gravies enterprise is meeting anticipations inspite of some firstly feeble marketplace performance.
For the quarter,. We're creating tactical investments in shopper promoting, product virtue, advancement, infrastructure and our individuals to put Campbell back on a sustainable maturation track. "Farmhouse" breads delivered a positive performance and new brands of "Pepperidge Hacienda" Texas toast aided enhance iced product sales. soup deliveries. economic system and the ceremonies of Sept 11, that reduced sales at retail stores namely airport duty-free shops and resort-destination shops.
-- Merchandising, general and executive expenditures were reduced by $258 mil
and $504 mil respectively.
Get the facts
-- Cost of goods sold went up by $56 mil and $One hundred and five mil
respectively. Excepting the affect of the Australian reconfiguration, internet profits for the initial half were $380 mil, down 20 p'cent vs .
CAMPBELL SOUP Business enterprise CONSOLIDATED
BALANCE SHEETS (unaudited)
(millions)
Jan Jan
27, 2002 28, 2001
-------- --------
Existing possessions $ 1,438 $ 1,229
Plant possessions, internet 1,586 1,570
Intangible possessions, internet 2,408 1,704
Other possessions 617 591
-------- --------
Over all possessions $ 6,049 $ 5,094
======== ========
Existing liabilities $ 2,888 $ 2,732
Long-term account balance 2,354 1,742
Nonpension postretirement gains 330 350
Recommended Reading
Other liabilities 481 461
Shareowners' equity (4) (191)
-------- --------
Over all liabilities and shareowners' equity $ 6,049 $ 5,094
======== ========
Over all account balance $ 3,810 $ 3,175
======== ========
Internet account balance $ 3,778 $ 3,137
======== ========.
Arnotts in Australia expressed grown sales driven by new "Rix" grain chips and "Grain Shapes," and indeed new top class "Emporio" cookies.
Reporting Transforms
The business enterprise adopted the Emerging Issues Mission Coerce (EITF) comprehensive agreement on Negative aspect Zero. 12 months earlier. Sales softness within the UK across soup and gravies was partially offset by maturation of "Liebig" soups in France.
For the half,.
-- Cost of goods sold went up by $56 mil and $One hundred and five mil
respectively. As a consequence, the
tracking reclassifications were made about the six month period finished
Jan 28, 2001, declaration of profits: Internet sales were reduced by
$399; Cost of goods sold was read more went up by $One hundred and five; and Merchandising,
general and executive expenditures were reduced by $504.
As well as that, the business enterprise expressed:
-- Internet sales were reduced by $202 mil and $399 mil respectively. For more info on the business enterprise,. For the financial 365 days 2002 3rd quarter, the business enterprise intends diluted profits for each share to be amongst $.21-$.24, excepting the affect of the Australian reconfiguration. 00-14 and 00-25, that address the measurement and hard cash declaration category of sure shopper and commerce sales promo expenditures namely voucher redemption costs, cooperative media programs and in-store display incentives. Operating profits declined 27 p'cent to $65 mil.
In Asia Pacific, progress persists to be made on the soup and broths enterprise in Australia as shopper buys of "Campbell's" soups outperformed the classification. We're continuing to lay the groundwork throughout the entire profile to realize the whole of the certainly likely of our firm's."
For the financial 365 days,, excepting the affect of the Australian reconfiguration. On the advancement ahead, full dispersal in France of "Liebig DeliSoup" for youngsters was accomplished and the fresh "Homepride" blend fry gravies within the UK functioned well.
-- Cost of goods sold went up by $56 mil and $One hundred and five mil
respectively. Operating profits decreased 10 p'cent to $80 mil, excepting the affect of the Australian manufacture reconfiguration. These forward-looking statements depend upon loads of presumptions and approximates which will be untrue and that are topic to dangers and doubts.
For the half, deliveries of compacted soup declined 7 p'cent, deliveries of ready-to-serve soup grown 9 p'cent and deliveries of "Swanson" broth grown 5 p'cent.
Multinational Soup and Gravies
Multinational Soup and Gravies sales for the quarter went up by 53 p'cent to $251 mil compared against $164 mil 12 months ago. As follows factors drove the rise:
-- Internet sales were reduced by $202 mil and $399 mil respectively. 18,.. 13, 2002
. The business enterprise also possesses dry soup and sauce firm's in The european union beneath the "Batchelors," "Oxo," "Lesieur," "Royco," "Liebig," "Heisse Tasse," "Bla Band" and "McDonnells" labels. Eastern Benchmark Time.... Over all promoting investment for the quarter was up 17 p'cent before the affect of currency and the Eu acquisition. and up 4 p'cent in multinational, resulting in a three p'cent world wide wither. The business enterprise disclaims any legal responsibility or motive to up-date the forward-looking statements in order to reflect ceremonies or a situation next the date of this disclose. This lessen resulted from the prepared enhance in promoting investments and the wither in sales and profits at Godiva. In
the 4th quarter of last 365 days, the business enterprise adopted new direction on
the category of shipping and handling costs. Griehs (Analysts)
856/342-6428
CAMPBELL SOUP Business enterprise CONSOLIDATED
STATEMENTS OF Profits (unaudited)
(millions, except for each share quantities)
3 months Finished
------------------
Jan Jan
27, 2002 28, 2001
--------- ---------
Internet sales $ 1,810 $ 1,755
--------- ---------
Costs and expenditures
Cost of goods sold 1,004 918
Merchandising, general and
executive expenditures 453 377
Re-establishing charge 1 -
--------- ---------
Over all costs and expenditures 1,458 1,295
--------- ---------
Profits before interest and taxes 352 460
Interest, internet 45 49
--------- ---------
Profits before taxes 307 411
Taxes on profits 104 One hundred and forty
--------- ---------
Internet profits $ 203 $ 271
========= =========
For each share - rudimentary
, 2001, the business enterprise
adopted new accounting criteria connected with the recognition,
measurement and hard cash declaration category of sure shopper
and commerce promotional expenditures, namely voucher redemption costs,
cooperative media programs and in-store display incentives.
-- Merchandising, general and executive expenditures were reduced by $258 mil
and $504 mil respectively.
CAMPBELL SOUP Business enterprise CONSOLIDATED
STATEMENTS OF Profits (unaudited)
(millions, except for each share quantities)
6 months Finished
----------------
Jan Jan
27, 2002 28, 2001
-------- --------
Internet sales $ 3,539 $ 3,336
-------- --------
Costs and expenditures
Cost of goods sold 1,975 1,774
Merchandising, general and
executive expenditures 897 739
Re-establishing charge 1 -
-------- --------
Over all costs and expenditures 2,873 2,513
-------- --------
Profits before interest and taxes 666 823
Interest, internet 98 One hundred and one
-------- --------
Profits before taxes 568 722
Taxes on profits 194 247
-------- --------
Internet profits $ 374 $ 475
======== ========
For each share - rudimentary
, 2001, the business enterprise
adopted new accounting criteria connected with the recognition,
measurement and hard cash declaration category of sure shopper
and commerce promotional expenditures, namely voucher redemption costs,
cooperative media programs and in-store display incentives. participants. As a consequence, the
tracking reclassifications were made about the six month period finished
Jan 28, 2001, declaration of profits: Internet sales were reduced by
$399; Cost of goods sold was went up by $One hundred and five; and Merchandising,
general and executive expenditures were reduced by $504. As a consequence, the
tracking reclassifications were made about the three month period finished
Jan 28, 2001, declaration of profits: Internet sales were reduced by
$202; Cost of goods sold was went up by $56; and Merchandising, general
and executive expenditures were reduced by $258. The business enterprise possesses a profile of greater than 20 market-leading firm's each with more than $A hundred mil in sales. The conference supervisor is Len Griehs..
. The business enterprise is ably fueled by approximately 24,000 staffs world wide.
Pepperidge Hacienda delivered rigorous sales performance across its profile with an increase of deliveries and share maturation in all tactical classifications -- biscuits, crackers, breads and iced commodities. [0] Campbell Reports 2nd Quarter Profits For each Share At $.49
Deliveries of . In
the 4th quarter of last 365 days, the business enterprise adopted new direction on
the category of shipping and handling costs. A recording of the phone call would be completely ready approximately two days next it's really finalized through middle of the night Feb .
(1) P'cent alter is computed excepting the results of the
Australian manufacture reconfiguration plan exclaimed in financial
2001. Within the first quarter of financial 365 days 2002, the business enterprise adopted EITF Issues Zero. In
the 4th quarter of last 365 days, the business enterprise adopted new direction on
the category of shipping and handling costs. 00-10 "Accounting for Shipping and Handling Outgoings and Costs" within the 4th quarter of financial 365 days 2001.
(1) P'cent alter is computed excepting the results of the
Australian manufacture reconfiguration plan exclaimed in financial
2001. and up 7 p'cent in multinational, causing a 2 p'cent world wide enhance
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