C&D financials
This article was originally published in The Tan Sheet
Executive Summary
First quarter oral care sales rise in mid-single digits on growth in "below radar" accounts such as club and dollar stores, as well as heavy pipeline volume for Arm & Hammer Complete Care toothpaste, Church & Dwight reports May 5. Sales in antiperspirant business were "essentially flat," but earnings improved due to sell-in of new items and manufacturing synergies for the Arrid brand, firm says. Personal care sales, including Armkel and affiliates, rose 5% to $94.7 mil. spurred by oral care, skin care categories. Overall C&D sales fell 3.3% to $248.3 mil., reflecting rationalization of the former Carter-Wallace pet care and USA Detergents product lines. Net income grew 40.4% to $20.9 mil. due primarily to an accounting charge in the year-ago period. Adjusting for the charge, EPS increased 19%...