United States-Campbell Soup.

UNITED STATES-CAMPBELL SOUP ONCE ARGENTINA’S LARGEST BEEF PROCESSOR HAS BAD YEAR.

Campbell Soup Co. said Monday its second-quarter net income fell 15% to $233 million, or 64 cents a share, from $274 million, or 71 cents a share in the year-ago period. Adjusted earnings for fell to 65 cents a share from 69 cents a share. Revenue dropped 4% to $2.12 billion. Wall Street analysts expected earnings of 65 cents a share on revenue of $2.21 billion, according to a survey by FactSet Research.

The Camden, N.J. food maker expects 2009 earnings per share growth at the high end of the 5% to 7% range excluding currency effects over the adjusted 2008 base of $2.09 a share. "Overall, we are pleased with our performance in the quarter, especially considering that currency negatively impacted results and major retailers significantly reduced inventory levels," the company said.