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Campbell Earnings Rise in 3rd Quarter

May 20, 2003|From Bloomberg News

Campbell Soup Co. said third-quarter earnings surged 34%, helped by the first increase in condensed-soup sales in more than a year.

Net income rose to $129 million, or 31 cents a share, from $96 million, or 23 cents, a year ago, Campbell said. Sales rose 17% to $1.6 billion.

Sales of condensed soup, which make up more than half of Campbell's business, rose 2% as the company added fresher-tasting ingredients to its vegetable brands.

Shares of Campbell rose $1.50 to $22.95 on the NYSE.

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