Summary Box: Campbell Soup 1Q results

AP News
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Posted: Nov 22, 2011 1:45 PM
Summary Box: Campbell Soup 1Q results

THE NEWS: Campbell Soup Co.'s first-quarter net income fell 5 percent as the company worked to turn around its U.S. soup business. Profit was better than expected, but revenue missed analyst expectations.

THE CONTEXT: The Camden, N.J., company is trying to regain lost ground after several years of declining soup sales. It has closed plants and cut jobs to lower overhead costs.

WHAT'S NEXT: Campbell affirmed its guidance for fiscal 2012. It expects revenue to be flat to up 2 percent for the year.