金宝汤公司Campbell Soup Company (CPB) 2003年年度报告「NYSE」.pdf

1、momentumCampbell Soup Company 2003 Annual ReportBuilding 2003 2002(millions of dollars,except per share amounts)53 Weeks 52 WeeksNet sales$6,678$6,133 Gross margin$2,873$2,690 Percent of sales 43.0%43.9%Earnings before interest and taxes 1,2$1,105$984 Percent of sales 16.5%16.0%Net cash provided by

2、operating activities$873$1,017 Capital expenditures$283$269 Earnings before cumulative effect of accounting change1,2$626$525 Per share1,2 Basic1,2$1.52$1.28 Diluted1,2$1.52$1.28 Dividends$259$258 Per share$0.63$0.63 1 In 2003,the company adopted Statement of Financial Accounting Standards(SFAS)No.1

3、42“Goodwill and Other Intangible Assets”and discontinued the amortization of goodwill and indefinite-lived intangible assets.Results for 2002 include$70($54 after tax or$.13 per share)of amortization.See also Note 3 to the Consolidated Financial Statements.2 2003 and 2002 results include pre-tax cos

4、ts of$1 and$20($14 after tax or$.03 per share),respectively,related to an Australian manufacturing reconfiguration.Of these amounts,pre-tax costs of approximately$1 and$19 were recorded in 2003 and 2002,respectively,in Cost of products sold.Financial Highlights 1Campbell Soup Company Annual Report 2

5、003Dear Shareowner,Two years ago we began to implement a three-year,five-point plan designed to renew Campbell Soup Company.In fiscal 2003,we began building momentum with innovative products,revitalized core brands and reenergized employees.Net sales in fiscal 2003 increased 9 percent(currency and a

6、cquisitions accounted for 5 percent of the increase)to$6.7 billion,and earnings before the cumulative effect of accounting change grew 8 percent(excluding amortization from fiscal 2002 results)to$626 million,or$1.52 per share.These gains were achieved through strong volume growth in the second half