Raises Fiscal Year EPS Outlook for One-time Tax Benefit
CINCINNATI, Oct. 30, 2007 /PRNewswire-FirstCall/ -- The Procter & Gamble Company (NYSE: PG) announced net sales growth of eight percent to $20.2 billion for the quarter. Every reportable segment delivered mid-single digit or higher sales growth. Organic sales were up five percent for the quarter, in-line with the company's four to six percent target growth range. The Fabric & Home Care, Baby & Family Care and Grooming segments led the growth behind continued strong results on product initiatives across the globe.
Earnings per share were up 16 percent to $0.92 per share, including a one- time tax benefit which increased EPS by $0.02 per share. The company's EPS growth, excluding the one-time benefit, was 14 percent. Earnings per share grew primarily behind strong sales growth and a 30-basis point improvement in operating margin. The company raised its fiscal year EPS outlook by $0.02 to reflect the one-time tax benefit.
"The fiscal year is off to a good start," said A.G. Lafley, Chairman of the Board and Chief Executive Officer. "P&G continues to deliver broad-based top and bottom-line growth across its portfolio of businesses and geographies. This momentum, along with a robust initiative pipeline for the year, gives us confidence that P&G will deliver another strong year of growth."
-- Net sales increased eight percent to $20.2 billion behind five percent
volume growth. Growth was broad-based with 15 of the company's top 16
countries delivering year-on-year volume growth.
-- Organic sales and volume increased five percent with each geographic
region and every reportable segmen
|SOURCE The Procter & Gamble Company|
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