Gillette Beats Estimates on Strong Razor Sales

Blades and razors are moving in Europe.

Author:: TSC Staff
Publish date:: Apr 23, 2002 9:31 AM EDT

Solid sales of razors, especially in Europe, boosted

Gillette's

first-quarter results above both year-ago levels and analyst expectations.

The Boston-based consumer products giant said it earned $223 million, or 21 cents a share, compared with $182 million, or 17 cents a share, a year ago. Analysts were expecting earnings of 19 cents, according to First Call. Sales rose 6.7% to $1.73 billion.

Gillette said blade and razor sales were $770 million in the first quarter, up 13%, while profit was $288 million, up 24% from last year.

"We are very much on course with our turnaround plans for Gillette. Our top-line growth is strong, and importantly it results from shipments that are in balance with consumption," the company said.