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Church & Dwight Records 4.1% Organic Sales Growth in 2011
Posted: February 7, 2012
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In regard to the company’s outlook for 2012, Craigie said, “We continue to expect a difficult and challenging economic environment in 2012. Consumer spending and category growth is expected to remain weak due to high unemployment and consumer uncertainty. Commodity prices are expected to continue to increase in 2012 and competition will remain fierce. We believe we are in an excellent position to continue to deliver value to our shareholders with our balanced portfolio of value and premium products, aggressive cost cutting and tight management of overhead costs.
“We expect reported and organic sales growth of 3–4% in 2012 while increasing gross margin by 25–50 basis points. Regarding mix, we continue to expect our value products, particularly in the laundry category, to benefit from the weak economy and deliver strong organic growth. We plan to maintain our marketing support in 2012 focused behind our power brands and the launch of our innovative new value and premium products, which will continue to drive share gains.
“As a result of these factors, we are forecasting earnings per share to be in the range of $2.41–2.43, which is an increase of 14–15% on a reported basis, and 9–10%, excluding the deferred tax valuation allowance charge of $0.09 in 2011,” Craigie concluded.