Church & Dwight Net Increases

Princeton, N.J.-based Church & Dwight Co., said its net income rose to $16.2 million (25 cents a share) up from $11.9 million (18 cents) a year ago. Sales for the three months ended Dec. 31 advanced to $431.3 million from $405 million in last year’s fourth quarter. This year’s fourth quarter included charges of more than $17 million for the shutdown of a small factory in Europe and other restructuring efforts, as well as costs related to the Gulf Coast hurricanes. The year-ago period included a $14.9 million charge to refinance long-term debt, among other items. On Feb. 1 the company raised prices on about 35% of its U.S. goods in order to help offset rising costs for oil and other raw materials. For fiscal 2006, Church & Dwight forecast earnings of $1.93 a share ($2.01 excluding stock-option expense). Analysts’ estimates stand at $2.04 a share. Shares in Church & Dwight fell 8%, or $2.88, to close at $33.30.