P&G Reports Fourth Quarter EPS of $0.92 and Operating Profit Growth of 13%, Behind Balanced 5% Organic Sales and Vol... ( CINCINNATI Aug. 5 /- The Procter ...)

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P&G Reports Fourth Quarter EPS of $0.92 and Operating Profit Growth of 13%, Behind Balanced 5% Organic Sales and Volume Growth

Date:8/5/2008

CINCINNATI, Aug. 5 /PRNewswire-FirstCall/ -- The Procter & Gamble Company (NYSE: PG) announced net sales growth of 10 percent for the April - June quarter to $21.3 billion and nine percent net sales growth for the fiscal year to $83.5 billion. Organic sales were up five percent for both the quarter and the fiscal year. This marks the seventh year and 24th consecutive quarter in which P&G delivered top-line growth at or above the company's targets.

Diluted net earnings per share increased 37 percent for the quarter to $0.92 and 20 percent to $3.64 for the fiscal year. The quarter and fiscal year included net tax benefits of $0.12 and $0.14 respectively, due to a number of significant adjustments to tax reserves in the U.S. and other countries. Quality of earnings growth was strong as operating profit increased 13 percent for the quarter and 11 percent for the fiscal year behind sales growth and operating margin improvement. Operating margin was up due to overhead productivity improvements and increased pricing, which combined, more than offset a significant increase in commodity and energy costs.

"Once again, P&G delivered top and bottom line growth at or above the company's targets -- while also successfully completing the integration of Gillette," said Chairman of the Board and Chief Executive Officer, A.G. Lafley. "We're leading innovations across the brand portfolio, building value for consumers and customers which is critical to delivering good results in a difficult economic environment. The strength of the portfolio and our focus on innovation and productivity give us confidence that we will continue to deliver sustained growth in the coming year and beyond."

Executive Summary

-- Net sales increased 10 perc
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P&G Reports Fourth Quarter EPS of $0.92 and Operating Profit Growth of 13%, Behind Balanced 5% Organic Sales and Vol...( CINCINNATI Aug. 5 /- The Procter ...),Health