Colgate said the full-year forecast is consistent with its long-term goal.
The company added it expects mid-single digit earnings per share growth for fiscal 2011.
"As we turn to 2011, while our global budget process is still in its initial stages, we are planning to strengthen our volume and market share, driven by many new and existing Colgate products supported by increased advertising, and consequently we anticipate mid-single digit earnings per share growth for the year," said Ian Cook, chairman and CEO, in a statement Thursday.Colgate said third-quarter net income rose 4.9% to $619 million, or $1.21 a share, in line with consensus expectations, from $590 million, or $1.12, the previous year. The company said it was operating amid aggressive competitive activity and difficult global economic conditions. Net sales fell 1.4% to $3.94 billion from about $4 billion. The average analyst sales estimate for the quarter was $4.03 billion. During the quarter, global volume grew 3%, pricing was flat from the year-earlier quarter and foreign exchange was negative 4.5%. The company said its global market share in manual toothbrushes rose 1.6 points to 31.5% from a year earlier. >>Search for Highest Dividends by Rate or Yield
|More on Earnings Today's Top Earnings|
>To contact the writer of this article, click here: Andrea Tse. >To follow the writer on Twitter, go to Andrea Tse. >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV