EWING, N.J. (AP) -- Church & Dwight's fourth-quarter net income jumped 27 percent, driven by strong sales of Arm & Hammer and other consumer products in the U.S. offset weaker demand overseas.
The company, which makes everything from toothbrushes and baking powder, to cat litter and condoms, now foresees 2013 earnings at the high end of its prior guidance.
Church & Dwight earned $80.8 million, or 57 cents per share, for the period ended Dec. 31. That's up from $63.8 million, or 44 cents per share, a year ago.
Profits matched Wall Street expectations, but revenue rose 11 percent, to $809.7 million, and beat forecasts by most analysts, according to a poll by FactSet. Analysts had been looking for $803.4 million in revenue.
Church & Dwight Co. said its consumer domestic revenue rose 17.3 percent in the quarter, buoyed by better sales of Arm & Hammer liquid laundry detergent, cat litter and toothbrushes, as well as its Trojan products.
Revenue for consumer products overseas fell 6 percent mostly because of a change in the fiscal calendar for some subsidiaries in the prior-year period.
Specialty product revenue declined 3.8 percent.
Full-year net income climbed 13 percent to $349.8 million, or $2.45 per share, from $309.6 million, or $2.12 per share, in the previous year.
Annual revenue increased 6 percent to $2.92 billion from $2.75 billion.
Church & Dwight now anticipates 2013 earnings of $2.79 per share, which is the top of its prior outlook of earnings between $2.74 and $2.79.
Analysts expect full-year earnings of $2.80 per share.
The company expects first-quarter earnings to climb about 8 percent. Based on the year-ago period's earnings of 66 cents per share, this implies earnings of about 71 cents per share.
Wall Street predicts first-quarter earnings of 73 per share.
Company shares rose 35 cents to $58.75 in morning trading.
- Investment & Company Information