Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : the Women of SI -- Ignore unavailable to you. Want to Upgrade?

To: Rainy_Day_Woman who wrote (733)	4/21/1999 2:48:00 PM
From: Dorine Essey	Read Replies (1) \| Respond to of 1691

Hi Sherry, News out for Colgate Dorine FOCUS-Colgate-Palmolive posts record first quarter April 21, 1999 02:23 PM (Recasts lead; adds stock price in para 3) NEW YORK, April 21 (Reuters) - Consumer products giant Colgate-Palmolive Co. CL , the nation's No.1 maker of tooth paste, posted record first quarter earnings on Wednesday that beat Wall Street estimates amid strong global sales. Diluted earnings per share rose 8 percent to 65 cents compared with 60 cents in the same period of 1998 and net income rose 7 percent to $208.9 million from $196 million. Surpassing the analysts' consensus earnings estimate by a cent a share helped push the company's stock up by $3.37 to $96.37 in morning trade on the New York Stock Exchange. Market research firm First Call had pegged earnings at 64 cents. Net sales of Colgate-Palmolive products, including soaps, toothpaste and deodorants, were $2.18 billion compared with $2.16 a year earlier, with worldwide unit volume rising 3 percent. But the company said foreign currency exchanges hurt worldwide sales by about 4 percent. "We are very pleased with this robust volume momentum, led by 13 percent unit volume growth in Colgate-North America and 8 percent at Hill's Pet Nutrition," said Reuben Mark, Chairman and chief executive officer of the company, whose brand names include Colgate, Palmolive, Mennen, Softsoap, Protex, Ajax, Soupline and Fab, as well as Hill's Science Diet and Hill's Prescription Diet pet foods. "Good growth, together with strong margin improvement in every division, drove us to another record in both dollar profit and profitability. Cash generation was very strong, and after-tax return on capital reached a record 20.9 percent versus 18.8 percent in last year's first quarter," said Mark. "Every geographic area met or exceeded our volume expectations despite economic problems in some areas of the developing world. "The aggressive focus of Colgate people worldwide on profitable new products, cost reduction and streamlining operations once again achieved sharp profit margin expansion. From this excellent beginning, we are excited about prospects for continued strong profitable growth throughout 1999," he said. ((New York Equities Desk 212-859-1700)) REUTERS