Gillette Reports Double-Digit Increase in Sales, Profit, Income

The Gillette Company announced record results for the fourth quarter and year in net sales, profit from operations, net income and diluted net income per share. For 2004, net sales increased 13% to $10.48 billion. Profit from operations increased 23% to $2.47 billion and net income rose 22% to $1.69 billion.

For the fourth quarter, net sales increased 19% to $3.11 billion, driven by strong consumer demand for new products, two additional selling days and the flow of shipments at the beginning of the 2004 quarter versus the year-ago period, according to Gillette Executives. Profit from operations for the quarter increased 19% to $610 million and net income increased 13%, to $415 million.

Company executives attributed the gains to one of the strongest company-wide new product initiatives in Gillette’s history, including the introduction of the M3Power and Venus Divine shavers, Oral-B Sonic Complete, Brush-Ups, the Gillete Complete skin care men’s line and the Braun Activator electric shaver.

“We made significant progress last year in all areas of our business,” commented James M. Kilts, chairman, president and chief executive officer. “We capped a four-year climb to the top of our sector with a second consecutive year of record results.” He added, “Our announced union with Procter & Gamble will combine two great businesses into what will be the best consumer products company in the world.”