P&G Delivers Second Quarter EPS and Organic Sales in Line with Ex...(three percent. PersonalHealth Care volu...),Health

Date:1/30/2009

three percent. Personal Health Care volume decreased double-digits due to a double-digit decline of Prilosec OTC from the loss of marketplace exclusivity in North America and the ThermaCare divestiture. Pharmaceuticals volume declined mid-single-digits primarily as a result of minor brand divestitures. Feminine Care volume was flat as double-digit growth of Naturella was offset by a mid-single-digit decline of Tampax. Oral Care volume decreased low-single-digits primarily due to trade inventory reductions of Crest. For the quarter, net earnings decreased 10 percent to $647 million primarily due to the decline of net sales and lower operating margin.

-- Snacks and Pet Care net sales declined one percent to $0.8 billion, and organic sales increased four percent for the quarter. Net sales were negatively impacted by unfavorable foreign exchange of five percent, a volume decline of five percent and negative product mix of one percent. These impacts were mostly offset by positive pricing of 10 percent. Volume in Snacks declined mid-single-digits due to supply constraints in North America. Volume in Pet Care was down mid-single-digits behind anticipated consumption declines in response to price increases which drove net sales up low-single- digits. Net earnings declined six percent to $63 million for the quarter primarily due to lower net sales and a commodity cost driven decline in gross margin, partially offset by lower SG&A expenses as a percentage of net sales.

Household Care GBU

-- Fabric Care and Home Care net sales decreased four percent to $5.8 billion for the quarter. Unfavorable foreign exchange reduced net sales by five percent during the quarter. Six percent positive pricing and one percent positive mix more than offset a six percent decline in volume resulting in organic sales growth of one percent. Fabric Care volume decreased mid-single- digits primarily due to a double-digi
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SOURCE The Procter & Gamble Company Copyright©2009 PR Newswire. All rights reserved

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