In accordance with generally accepted accounting principles, Heinz's financial statements for prior years had been restated to reflect the merger (show revenues, expenses, assets, and liabilities, excluding the entities that were later spun off to Del Monte) and the new segment reporting structure. On that basis, revenues for fiscal 2004 (fiscal year ended April 28, 2004) of $8.41 billion showed an increase of just under 2.2% over the prior year compared to an 8.2% revenue increase from 2002 to 2003. However, gross profit performance improved to 36.7% of sales in 2004 compared to 35.4% of sales in 2003. (Despite cost-cutting initiatives, Heinz's gross profit as a percentage of sales had decreased from 36.93% in 2001 to 35.4% in 2003.)