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For the third quarter of 2009, net sales were $1.69 billion, compared to $1.88 billion in the third quarter of 2008.
For the nine months ended May 3, 2009, net earnings were $667 million, or $1.85 per diluted share, compared to $1.08 billion, or $2.79 per diluted share, in the same period of 2008. Net sales were $6.06 billion, compared to $6.28 billion in the prior-year period.
Douglas Conant, president and CEO, said: "We delivered strong earnings growth this quarter. Reflecting our previous pricing actions and ongoing productivity improvements, gross margin performance improved versus the prior year, as expected. Following increased spending in the first half to launch new products, we reduced marketing expenses, as planned, particularly in US Soup."
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