Church & Dwight Reports Second Quarter
Earnings
Affirms Full Year 13-15% Earnings Growth on Comparable Basis
Dividend Increased 21%
August 05, 2010 07:03 AM Eastern Daylight Time
PRINCETON, N.J.--(EON: Enhanced Online News)--Church & Dwight Co., Inc. (NYSE:CHD) today reported
net income for the quarter ended July 2, 2010 of $74.3 million or $1.03 per share, compared to last year’s reported
net income of $58.2 million or $0.81 per share. Earnings per share increased 20%, excluding a plant restructuring
charge of $0.05 per share in 2009.
Second Quarter Review
Reported net sales for the second quarter increased 2.9% to $640.9 million. Organic sales grew 3.7% during the
quarter for the total Company and 3.8% for the total domestic and international consumer business, which excludes
the impact of foreign exchange rate changes, acquisitions, divestitures and a change in customer delivery
arrangements.
James R. Craigie, Chairman and Chief Executive Officer, commented, “We are pleased with our second quarter
business results in what continues to be a difficult economic and competitive environment. Consumer appeal for our
high-quality premium and value-oriented products continues to be strong. The weak economic environment
continues to favor our value brands. Our outstanding new products launched this year have resulted in distribution
gains across our key categories. Despite unit declines in most of our categories, our total consumer business
delivered approximately 7% unit growth and unit share increased on 5 of our 8 power brands. Our new product
launches, such as ARM & HAMMER Power Gel Laundry Detergent, TROJAN Fire and Ice Condoms and ARM
& HAMMER Double Duty Cat Litter, are off to a great start.”
Mr. Craigie continued, “Our second quarter gross margin and organic sales were negatively impacted by increased
trade spending in response to aggressive competitive pricing actions. We funded the increased trade spending by
lowering marketing spending. Our combined trade and marketing in