Finance In Brief
This article was originally published in The Rose Sheet
Executive Summary
Church & Dwight Q1: Divesture of deodorant and toothpaste businesses is "not on our radar," CEO James Craigie says in response to analyst question during first quarter sales and earnings call May 9. U.S. consumer sales increased 5.5% to $314 mil., with gains in other segments "partially offset by lower toothpaste and antiperspirant sales," company says in earnings release. In Q2, Mentadent and Arm & Hammer toothpaste launches will be backed by new ad campaigns, while Nair lotions will have increased marketing support, Craigie says. Personal care products were down .2% to $130.2 mil. First quarter sales of $442.4 mil., representing a 5.2% increase, include $12.3 mil. from acquisition of a skin care operation in Brazil and Procter & Gamble's SpinBrush battery-operated toothbrush business (1"The Rose Sheet" Sept. 19, 2005, p. 6). Net income increased 7% to $39.9 mil. including $2.1 mil. pretax stock option charge, and operating profit was up 7.6% to $72.3 mil. including the stock option charge...
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P&G SpinBrush Sale Expected To Facilitate FTC Gillette Deal Approval
Procter & Gamble has entered into a definitive agreement to sell its U.S. SpinBrush toothbrush business to Church & Dwight in an effort to ensure Federal Trade Commission approval of its Gillette acquisition