Church & Dwight Reports Q4 EPS of $.86 vs. $.89

Church & Dwight Co., Inc. CHD today announced that full year 2010 reported earnings per share increased 10% to $3.75 per share compared to $3.41 per share in the prior year. Full year 2010 earnings per share includes a $0.21 charge for the settlement of the Company's US pension benefit obligation. Adjusted earnings per share increased 14% in 2010. Adjusted earnings per share excludes the 2010 pension settlement and the 2009 plant restructuring charges of $0.24 per share and favorable legal settlement of $0.17 per share. Reported earnings per share in the fourth quarter decreased 12% to $0.65 per share compared to $0.74 per share in the prior year. Excluding the pension charge of $0.21 in 2010 and restructuring charges of $0.09 per share in 2009, earnings per share increased 4% to $0.86 per share. Reported net sales for the fourth quarter decreased 2.1% to $656.9 million. Organic sales decreased 1.4%, both for the total Company and our total domestic and international consumer business primarily reflecting the shorter fiscal quarter in 2010. The organic sales included volume growth of 0.9% which was depressed by a 2.3% negative effect of mix and price as a result of higher trade spending.