UPDATE 1-Church & Dwight's Q1 profit beats Wall Street

martedì 6 maggio 2008 15:41
 

(Recasts; adds outlook, background, share movement)

May 6 (Reuters) - Household and personal-care products maker Church & Dwight Co Inc (CHD.N: Quotazione) posted a bigger-than-expected 23 percent rise in quarterly profit as merger-related savings and improved pricing helped offset higher commodity and energy costs.

The company, which was helped by its acquisition of certain businesses from Orange Glo International in 2006, also reaffirmed its full-year profit outlook.

Church & Dwight, which competes with Procter & Gamble (PG.N: Quotazione), Clorox (CLX.N: Quotazione) and Colgate-Palmolive (CL.N: Quotazione), said domestic consumer sales in the first quarter benefited from February price increases on condoms and baking soda.

The company, which makes Trojan condoms, Arm & Hammer baking soda and SpinBrush battery-powered toothbrushes, posted first- quarter earnings of $56.2 million, or 81 cents a share, up from $45.1 million, or 66 cents a share, a year earlier.

Analysts on average had expected the Princeton, New Jersey-based company to earn 73 cents a share, before special items, according to Reuters Estimates.

Net sales rose 7.5 percent to $552.9 million, topping analysts' average forecast of $547.6 million.

For the full year, the company expects to earn $2.77 a share. Analysts on average expect $2.80 a share, before special items.

Shares of Church & Dwight were down 19 cents at $55.86 in early morning trade Tuesday on the New York Stock Exchange.

The company's stock has jumped nearly 8 percent over the past year, while the wider Standard & Poor's household and personal care products index .15GSPHHPE rose about 2.2 percent. (Reporting by Dhanya Skariachan in Bangalore; Editing by Pratish Narayanan)