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DAILY EARNINGS

Campbell Soup Rises, Spartech Falls


Author: 123jump.com Staff
ticker.com
Last Update: 11:23 AM ET September 11 2008

10:00AM New York - Campbell Soup Company sales rose 6% and net income rose 31%. Quantum Fuel Systems Technologies Worldwide, Inc revenue rose 6% and net loss was $47.2 million.

Campbell Soup Company, a global maker of convenience food products reported fourth quarter sales rose 6% to $1.7 billion from $1.5 billion a year ago. Net income in the quarter rose 46% to $89 million or 24 cents per share compared to net income of $61 million or 16 cents per share, a year ago.

Net earnings for fiscal 2008 were $1.165 billion, or $3.06 per share, compared to $854 million, or $2.16 per share, in the year-ago period. Excluding items impacting comparability, adjusted net earnings were $797 million compared to $771 million in the year-ago period. Adjusted net earnings per share were $2.09 in the current period compared to $1.95 in the prior period, an increase of 7%.

For fiscal 2008, earnings from continuing operations were $671 million versus $792 million a year earlier. Earnings per share from continuing operations were $1.76 compared to $2.00 a year ago.

Excluding the above-referenced items in both years, adjusted earnings from continuing operations for fiscal 2008 were $765 million compared to $740 million a year ago and adjusted earnings per share from continuing operations were $2.01 compared to $1.87 a year ago, an increase of 7 %. Earnings from discontinued operations for the year were $494 million, or $1.30 per share, versus $62 million, or $0.16 per share, a year ago. Excluding items impacting comparability in both years, adjusted earnings from discontinued operations for the year were $32 million, or $0.08 per share, compared to $31 million, or $0.08 per share, a year ago. For fiscal 2008, net sales were $7.998 billion, an increase of 8%.

Campbell Soup Company (CPB) in the last one year traded as high as $38.50 in August 2008 and as low as $30.19 in January 2008. Based on the yesterday’s closing price the company has a market cap of $13.96 billion.

Spartech Corporation, an intermediary processor of engineered thermoplastics said third quarter revenues fell 3% to $350.3 million from $361.1 million a year ago. Net income in the quarter fell 100% to $4.4 million or 15 cents per diluted share compared to net income of $8.8 million or 27 cents per share, a year ago.

Spartech Corporation (SEH) in the last one year traded as high as $19.84 in September 2007 and as low as $7.51 in March 2008. Based on the yesterday’s closing price the company has a market cap of $302.23 million.

Quantum Fuel Systems Technologies Worldwide, Inc, an integrated alternative energy company reported first quarter revenues rose 6% to $3.7 million from $3.5 million a year ago. Net loss in the quarter was $47.2 million or 59 cents per share compared to net loss of $66.8 million or 94 cents per share, a year ago.

Quantum Fuel Systems Technologies Worldwide, Inc (QTWW) in the last one year traded as high as $3.22 in June 2008 and as low as $0.37 in January 2008. Based on the yesterday’s closing price the company has a market cap of $117.88 million.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc