Procter & Gamble
This article was originally published in The Tan Sheet
Executive Summary
Health care net earnings increased 74% to $101 mil. during the third quarter ended March 31, benefiting largely from the acquisition of the Iams pet food brand. Health care sales totaled $1.08 bil., a 52% increase from the year-ago period; excluding acquisitions and divestitures, health care sales fell 1%, as strong gains in oral care were offset by a slow cold and flu season. Earnings excluding Iams were down as the health care division continued to invest in its portfolio of new products. Total P&G net earnings were $753 mil. for the quarter, including charges of $170 mil. related to its Organization 2005 restructuring program. Total sales grew 6% to $9.78 bil
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