Playtex Products, Inc. executives said the company swung to a profit in the fourth quarter due to a gain from the divestiture of Woolite last November. Net income for the quarter was $37.5 million. Excluding charges and gains, including a gain of $56.5 million from the Woolite sale, Playtex reported a loss of $241,000.
Sales were $140.9 million, down from $143.6 million in the year-ago period. Excluding sales of Woolite, sales rose 1.2% in the fourth quarter. Full-year earnings increased $55.5 million compared to $18.2 million in the year-earlier period.