Church & Dwight Profit Rises

Church & Dwight Co. Inc. posted a better-than-expected 6% rise in quarterly profit as price increases helped offset higher costs, and it nudged up its profit forecast for the full year. The maker of Arm & Hammer baking soda also said it plans to increase spending in the second half of the year. Second-quarter profit rose to $36.4 million, or 54 cents per share, from $34.4 million, or 51 cents per share, a year earlier. For the full year, the company now expects to earn $1.95 per share, up from its earlier forecast for $1.93, excluding any impact from its purchase of Orange Glo cleaning supplies, which closed on Monday. Church & Dwight still expects that acquisition to be a slight drag on earnings in 2006 and moderately add to earnings in 2007.