In Brief: Carter-Wallace
This article was originally published in The Rose Sheet
Executive Summary
Carter-Wallace: President and Chief Operating Officer Daniel Black will retire March 31, 1997. A successor has not yet been announced by the company's board of directors. Net sales for the company's FY 1997 first quarter (ended June 30) decreased 4% to $169.9 mil. The company noted that unit sales were "lower overall" in the consumer products segment, which includes the Arrid and Lady's Choice antiperspirant brands as well as Nair depilatories and Pearl Drops tooth whiteners. Carter-Wallace net earnings for the quarter were $9.3 mil. versus $861,000 a year-ago because of a one-time charge related to the closure of the company's condom plant in the prior-year period. Excluding the one-time charge, FY 1997 first quarter net earnings declined 27.2% from $12.7 mil. in the year-ago period...