P&G Reports First Quarter EPS of $1.03 Up 12% on 9% Sa...(he exits of theU.S. home appliance and T...),Health

Date:10/29/2008

he exits of the U.S. home appliance and Tassimo coffee appliance businesses and the continued impact of supply constraints in Western Europe. Global market share of the dry shaving category increased 1 point for the quarter due to a 4 point share increase of epilators. Favorable foreign exchange contributed six percent to net sales growth. Price increases taken across premium shaving systems added three percent to net sales. Product mix had a negative two percent impact on net sales as favorable product mix from growth on Gillette Fusion was more than offset by disproportionate growth in developing regions, which have lower than segment average selling prices. Net earnings increased six percent to $478 million for the quarter. Net earnings growth was driven by sales growth and lower overhead spending as a percentage of net sales, partially offset by lower gross margin and higher marketing spending as a percentage of net sales.

Health & Well-Being GBU

-- Health Care net sales were up four percent during the quarter to $3.7 billion. Sales growth was driven by five percent favorable foreign exchange and a two percent impact from increased pricing. This was partially offset by a negative three percent product mix impact driven primarily by lower shipments of Prilosec OTC and growth in developing regions. Segment volume was flat for the quarter. Organic volume, which excludes the impact of acquisitions and divestitures, increased one percent. Oral Care volume increased mid-single digits primarily behind double-digit growth of Crest in developing regions. Feminine Care volume was up low-single digits as high- single digit growth of Always in developing regions was partially offset by the divestiture of the Adult Incontinence business in Japan. Pharmaceuticals and Personal Health volume declined high-single digits due to a double-digit decline in Prilosec OTC from the loss of marketplace exclusivity and the divestitures of ThermaCare and other minor brands. N
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SOURCE The Procter & Gamble Company Copyright©2008 PR Newswire. All rights reserved

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