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Church & Dwight Profit Surges 38% in First Quarter

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By: TOM BRANNA

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Church & Dwight Co., maker of Arm & Hammer products, said its quarterly profit surged 39% on a modest sales increase. The Princeton, NJ-based company earned $20.9 million, or $0.50 a share in its first quarter compared with $14.9 million, or $0.36, in the year-ago period, when the company recorded a $0.06 accounting charge related to the transfer of some businesses to an affiliate, Armkel LLC. Excluding the one-time items a year ago, earnings per share rose 19%.

Sales fell 3.3% to $248.3 million, as the company eliminated some product lines and transferred others to Armkel. Including sales recorded by Armkel and other affiliates, sales rose 1.3% to $358 million from last year. Church & Dwight, in a statement, also reaffirmed its forecast of earning between $1.77 to $1.81 a share this year.

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