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Church & Dwight Reports Record Q1 2010
Posted: May 12, 2010
Church & Dwight Co., Inc. reported net income for the quarter ended April 2, 2010 of $80.0 million, compared to last year's reported net income of $62.6 million. Reported net sales for the first quarter increased 9.2% to $634.6 million. Organic sales increased 7.7% for the total company and 8.1% for its total domestic and international consumer business.
"We are very pleased with our solid first quarter business results in what continues to be a difficult economic and competitive environment," said James R. Craigie, chairman and CEO, commented, Church & Dwight Co. "Consumer appeal for our high-quality premium and value-oriented products continues to be strong."
First quarter organic sales increased by 8.1% as a result of higher sales of Nair and Aim toothpaste, among other brands.
Consumer international sales were $102.7 million, a $19.9 million increase or 24.0% above the previous year first quarter sales. Excluding the 16.2% favorable effect of foreign exchange rate changes, organic sales increased by 8.0%, primarily reflecting increased sales in Canada, Brazil, the U.K. and Australia.
"We are launching our best new product lineup ever in 2010, and the customer response has been excellent with distribution gains across almost every key category," said said Craigie. "We expect to deliver organic sales growth of approximately 4–5% in 2010 based on our strong pipeline of innovative new products supported by effective marketing programs."