whole bunch of stuff out after the bell. Here's one of them
(BSNS WIRE) Gillette Announces Expected First Quarter Results
Gillette Announces Expected First Quarter Results
Business Editors
BOSTON--(BUSINESS WIRE)--April 5, 1999--The Gillette Company
expects to report a mid-single digit increase in first quarter
earnings per share, which is about one cent below Wall Street's
estimate.
Sales growth in the low-single digits is expected after adjusting
for divested businesses, including Jafra International (3%) and
rechargeable batteries (1%), and for the negative effect of exchange
(2%-3%). The Company's largest business, blades and razors, is
expected to generate double-digit sales advances, driven by
outstanding gains in North America and the rebounding Asia-Pacific
region. Greater than anticipated softness in the Braun business and in
Latin America is likely to affect reported results.
Gillette remains confident that sales throughout international
markets will strengthen by the third quarter, compared with the prior
year. This acceleration, together with more normalized trade buying
practices and continued market share gains, should put the Company on
track to return to its historical 15%-20% earnings-per-share growth
rate during the second half of 1999.
This report contains "forward-looking statements" about the
Company's future performance. There are, however, a number of factors
that can affect the Company's future prospects and progress. These
include, among other things, finalizing quarterly results, the
acceptance of new products, economic conditions and the competitive
market environment, all of which contain elements of uncertainty.
Please refer to the Cautionary Statements contained in the Company's
10-K and 10-Q filings for a more detailed explanation of the inherent
limitations in such forward-looking statements.
--30--kf/bos*
CONTACT: Gillette
Joan M. Gallagher, Vice President,
Corporate Public Relations, 617-421-7792
or
Everett R. Howe, Vice President,
Corporate Investor Relations, 617/421-7750
KEYWORD: MASSACHUSETTS
INDUSTRY KEYWORD: RETAIL
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