Campbell 3rd-quarter profit beats Street

* EPS $0.48 vs $0.43, excluding items

* Sales fall 10 pct

* Shares unchanged in extended trade

CHICAGO, May 21 (Reuters) - Campbell Soup Co (CPB.N) posted higher quarterly profit, excluding one-time items, helped by higher prices and cost-cutting measures.

The world's largest soup maker said earnings, excluding restructuring charges, were 48 cents a share in the fiscal third quarter ended May 3, up from 43 cents a year earlier. Year earlier results exclude a gain from the sale of the Godiva chocolate business and restructuring charges.

Sales fell 10 percent to $1.69 billion.

(Reporting by Brad Dorfman; Editing Bernard Orr)

((bradley.dorfman@thomsonreuters.com; +1 312 408 8133; Reuters Messaging: bradley.dorfman.reuters.com@reuters.net; ))

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