Our adjusted net earnings per share were consistent with our long-term goal of adjusted net earnings per share growth of 5 to 7 percent. In fact, our net earnings per share growth on an adjusted basis has met or exceeded our targeted growth in each of the last seven years.

We overcame a number of headwinds to deliver these results, including adverse pressure from currency and a global recession. Consumers across the world responded to the recession with heightened price sensitivity, which allowed us to emphasize the inherent value of many of our products. Overall, our team responded with agility and skill to ensure we met consumers' and customers' needs and delivered our profit targets. For these reasons and more, I'm very proud of our management team and all of our employees.

Importantly, we achieved our financial goals while continuing to invest in innovation, infrastructure and our geographic footprint to accelerate our long-term growth. For example, we continued to make progress on sodium reduction, which increases the appeal of our soups as nourishing, simple meals. Nearly all of our North American operations successfully completed the transition to SAP, a more effective and efficient enterprise-resource planning system, which we plan to roll out to Australia and New Zealand during fiscal 2010. In our emerging markets business, we continued to advance our entries into Russia and China. In Russia, we greatly enhanced our distribution capabilities through an agreement with Coca-Cola Hellenic Bottling Company S.A., the distributor for Coca-Cola products in Russia. In China, we expanded into Shanghai, backed by continued investment in market research to ensure the strength of our consumer proposition. In addition, we expanded our Pepperidge Farm bakery capabilities by acquiring Ecce Panis, Inc., which gives us entry into the rapidly growing artisan breads segment.

All of this work is consistent with our seven core strategies. Regardless of external pressures, we are determined to achieve our annual financial goals while laying the groundwork for even better performance.

Nine years ago, we launched a journey to transform our company. Our mission is straightforward: "Together we will build the world's most extraordinary food company by nourishing people's lives everywhere, every day." To guide our efforts, we created the Campbell success model, which now includes four goals:

Winning in the Workplace

Placing the right people into the right positions, and creating a high-performance culture with world-class engagement levels. We recognize that this is a critical first step and the best foundation for competing more effectively in a global marketplace.

Winning in the Marketplace

Delivering above-average total shareowner returns by meeting the needs of our consumers and customers better, faster, more completely and more uniquely than anyone else.

Winning in the Community

Building on Campbell's long tradition of responsible corporate citizenship, particularly in the areas of community service and environmental sustainability.

Winning with Integrity

Fully complying with the law and holding ourselves to the highest standards of honesty and fairness in all of our actions.

Pursuing our success model has helped us elevate our performance. We are confident that by continuing to pursue our success model, we can accelerate our performance and become extraordinary.

1 These amounts were adjusted for certain items not considered to be part of the ongoing business. Click here for a reconciliation of non-GAAP measures.