P&G Posts In-Line Profit, Sees Gains in Fiscal 2012

CINCINNATI (TheStreet) -- Procter & Gamble(PG), the consumer products giant, posted first-quarter earnings of $1.03 a share, in line with estimates, as sales rose 9% to $21.92 billion.

Analysts polled by Thomson Reuters expected earnings of $1.03 a share on revenue of $21.53 billion.

Organic sales rose 4% on higher volume and pricing, the company said.

P&G, in a statement Thursday, said it held or increased market share in three of five regions, 11 of its top 15 countries, four of six reporting segments and on 15 of its 24 billion-dollar brands.

P&G said net sales and organic sales are expected to increase 3% to 6% in fiscal 2012. Earnings from continuing operations and core earnings are expected to be in the range of $4.17 to $4.33 a share, up 6% to 10% vs. a base period Core EPS of $3.95.

Analysts expect fiscal-year earnings of $4.20 a share on revenue of $87.12 billion.

P&G said it expects net sales growth in the second quarter of 3% to 5%, the company said. Per-share earnings and Core EPS are expected in the range of $1.05 to $1.11, down 7% to down 2% versus a base period Core EPS of $1.13.

-- Written by Joseph Woelfel

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