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Church & Dwight’s Third Quarter Profit Up 11% in Solid Laundry

November 14, 2005

Church & Dwight announced third quarter
profit grew 11%, helped in part by solid sales growth at its biggest division, laundry products. The company reported net income of $19.5 million, compared to $17.6 million a year earlier. Sales increased to $265.6 million from $263.8 from last year. Improvements in the company’s laundry products narrowly offset weaker sales of deodorizers and cleaners and personal care products, executives said.
Laundry product sales rose 4.5% to $105.6 million, as sales for personal care products fell 9.5% to $41.7 million amid competition and lower promotional spending. Sales of deodorizers and cleaners slipped 2.2% to $61.3 million.
Armkel, a 50-50 joint venture between Church & Dwight and private equity group Kelso & Co., reported a 3.2% decline in net income to $9 million. Sales rose 2.4% to $ 103.4 million.
In October, Church & Dwight completed its acquisition of Unilever’s U.S. and Canadian oral-care brands for $104 million, plus additional performance-based cash payments of between $5 million and $12 million to be made at a later date. The businesses include Mentadent toothpaste and toothbrushes, the Pepsodent and Aim toothpaste brands and exclusive licensing rights to Close-Up toothpaste.

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