Campbell Soup Profit Falls

Revenue rises.
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Campbell Soup

(CPB) - Get Report

, a convenience food product manufacturer, said for its first quarter ended Oct. 29 earnings fell 3.6% from the year-ago period, despite higher revenue.

The Camden, N.J.-based company earned $291 million, or 72 cents a share, in the quarter, compared with $302 million, or 73 cents a share, a year ago. The company earned 66 cents a share from its continuing operations in the most recent quarter. Analysts polled by Thomson first Call were expecting earnings of 61 cents a share.

First-quarter revenue rose 7.5% from a year ago to $2.15 billion, topping the analysts' estimate of $2.11 billion.

The company affirmed its fiscal 2007 guidance for earnings from continuing operations to increase 5% to 7% from the adjusted pro forma fiscal year 2006 base of $1.73 a share. Analysts expect earnings of $1.86 a share.

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