This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Colgate To Cut 6 Pct Of Workforce In 4 Years

Colgate-Palmolive reported net income of $654 million, or $1.36 per share for the three-month period ended Sept. 30. That compares with $643 million, or 1.31 per share in the year-ago period.

The results include special charges related to the sale of land in Mexico and other costs, Colgate-Palmolive earned $1.38 per share.

Revenue slipped 1 percent to $4.33 billion from $4.38 billion.

Analysts had expected $1.38 per share on revenue of $4.38 billion, according to a poll by analysts.

Colgate-Palmolive said that its global market share in toothpaste and manual toothbrushes are both at record high year to date. The company's share of the global toothpaste market strengthened to 44.9 percent year to date, up 0.6 percent points compared with a year ago. The company's leadership in manual toothbrushes also was further fortified during the quarter, with Colgate's global market share in that category reaching 32.7 percent year to date, up 0.8 percent percentage points compared with a year ago.

North American revenue, which accounts for 18 percent of its business, rose 2.5 percent during the third quarter and prices edged up 0.5 percent. In Latin America, which makes up 29 percent of company sales, revenue were unchanged from a year ago and prices rose 5.5 percent. Revenue from Europe and the South Pacific, which combined account for 20 percent of total business, fell 11 percent, while prices declined 1 percent. In greater Asia and Africa, which makes up about 20 percent of Colgate's revenue, revenue rose 5.0 percent during the third quarter, while prices increased 4 percent.

Shares fell $1.96, or 1.8 percent, to close at 104.60 Thursday.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,550.69 -47.51 -0.27%
S&P 500 2,093.32 -4.72 -0.22%
NASDAQ 5,105.5460 -9.8360 -0.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs