Packaged foods maker Campbell Soup Company (
) on Friday said its fiscal fourth quarter profit surged 64% from
last year, when one-time items weighed down results, but noted its
2011 outlook was a bit conservative amid challenging market
The Camden, NJ-based company reported fiscal fourth quarter net
income of $113 million, or 33 cents per share, compared with $69
million, or 20 cents per share, in the year-ago period. Excluding
one-time items, adjusted profit was 30 cents per share.
Sales fell less than 1% from last year, to $1.52 billion.
On average, Wall Street analysts expected a smaller profit of 30
cents per share, albeit on higher revenue of $1.59 billion.
Looking ahead, the company predicted full-year 2011 sales growth
of 2% to 3% and EBIT growth of 4% to 5%, which could fall a bit
below its original growth estimates.
Campbell Soup shares fell 32 cents, or -0.9%, in premarket
The Bottom Line
We have been recommending shares of CPB since Dec.2, when the stock
was trading at $35.56. The company has a 2.95% dividend yield,
based on last night's closing stock price of $37.32.
Campbell Soup Company (
) is a "recommended" dividend stock, holding a Dividend.com DARS™
Rating of 3.5 out of 5 stars.
Be sure to visit our complete recommended list of the
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, as well as a detailed explanation of
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