11.05.12
Church & Dwight Co., Inc. (CHD) reported net sales for the third quarter ended Sept. 30, 2012 increased 3.5% to $725.2 million. Net income for the quarter rose 1.8% to $93.9 million.
James R. Craigie, chairman and CEO, commented, “We are very pleased with our third quarter business results in what continues to be a difficult economic environment … despite continuing weak category consumption in the US, we increased market share on our four largest brands in the quarter, representing over 70% of our volume. In fact we achieved all-time high quarterly market shares on Arm & Hammer liquid laundry detergent and Xtra liquid laundry detergent.”
Consumer domestic net sales rose 4.8% to $530.4 million, primarily due to higher sales of Arm & Hammer liquid laundry detergent, Arm & Hammer cat litter, Oxiclean Laundry Additives, Nair depilatories and the recently introduced Arm & Hammer Crystal Burst unit dose laundry detergent. These increases were partially offset by lower sales of Arm & Hammer powdered laundry detergent and Arrid deodorant.
Consumer international net sales rose 2% to $131.1 million, primarily due to stronger sales in Europe and Australia. Specialty products net sales decreased 4% to $63.7 million.
“Our strong organic growth in the first nine months of 2012 of 5.5% has been largely driven by innovative new products, including Arm & Hammer unit dose laundry detergent, Arm & Hammer Sensitive Laundry Detergent, Oxiclean Booster for dishwashers, the co-branded Arm & Hammer and Orajel Sensitive toothpaste and more,” said Craigie.
On Oct. 1, 2012, the company acquired Avid Health, Inc, a leader in gummy form vitamins and supplements, for an aggregate purchase price of approximately $650 million, financed with the issuance of $400 million in aggregate principal amount of senior notes (2.875%) due 2022, commercial paper and cash. The integration process is in progress.