Colgate-Palmolive beats by $0.01, beats on revs
Briefing.com
Posted: 2008-04-30 07:30:52
Reports Q1 (Mar) earnings of $0.90 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.89; revenues rose 15.5% year/year to $3.71 bln vs the $3.57 bln consensus. "As we look ahead, we expect gross profit margin for 2008, excluding restructuring charges, to be flat to slightly up versus a record 2007, reflecting the significantly higher cost environment balanced by our successful cost savings and pricing efforts. Taking into account the normal lag in the effect of price increases, combined with the impact of our ongoing savings programs, we anticipate gross profit margin to be up more substantially in 2009, even if oil and commodity prices increase moderately above current record levels. We are also confident the strong top-line growth will continue. Our new product pipeline is as full as ever and we plan to continue supporting it with higher levels of advertising worldwide. We expect that our strong sales momentum and excellent results from our ongoing cost-saving initiatives will enable us to achieve our expectations of double-digit earnings per share growth in 2008, as we did in 2007 and in the first quarter just reported."
