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Non-Tech : Gillette (G) - Even Buffett Justify This One -- Ignore unavailable to you. Want to Upgrade?

To: Rainy_Day_Woman who wrote (578)	10/21/1999 10:45:00 PM
From: AugustWest	Read Replies (1) \| Respond to of 684

Oh boy, here we go again. Major buying opportunity, or dead money for the next couple quarters? Thursday October 21, 5:10 pm Eastern Time Gillette Co. expects fourth-quarter earnings drop BOSTON, Oct 21 (Reuters) - Gillette Co. (NYSE:G - news) said on Thursday it expected its fourth-quarter earnings and sales to drop as the company tries to trim excess inventory. Hawley added that he expected the company's results to bounce back and return to high growth rates ''in the near future.'' ''We expect that this corrective action will result in a fourth-quarter sales decline in the mid-single digits and a quarterly earnings decrease in the middle to high teens,'' Gillette Chief Executive Michael Hawley said in statement. Gillette, which reported third-quarter net income of $352 million, or 32 cents per diluted share, also said its board of directors authorized a 25 million share expansion of its stock buyback plan, bringing the total buyback plan to 100 million shares. Gillette's shares ended up 1/2 at $37-7/8 on Thursday on the New York Stock Exchange. Gillette manufactures well known products such as Gillette razors and blades, Oral-B toothbrushes, Braun electrical devices and Duracell batteries.