CHURCH & DWIGHT CO., INC. REPORTS STRONG SECOND-QUARTER EARNINGS.PRINCETON Princeton, borough (1990 pop. 12,016) and surrounding township (1990 pop. 13,198), Mercer co., W central N.J.; settled late 1600s, borough inc. 1813, township est. 1838. A leading education center, it is the seat of Princeton Univ. , N.J.--(BUSINESS WIRE)--July 26, 1995--Church & Dwight Dwight , Timothy 1752-1817. American clergyman, author, and educator who was a leading supporter of Federalism and served as president of Yale University (1795-1817). His grandson Timothy (1828-1916) was also president of Yale (1886-1899). Co. Inc. (NYSE NYSE See: New York Stock Exchange :CHD CHD coronary heart disease. ChD abbr. Latin Chirurgiae Doctor (Doctor of Surgery) CHD, n.pr See disease, coronary heart. CHD canine hip dysplasia. ) today reported that for the second quarter, ended June June: see month. 30, 1995, earnings were $0.29 per share, significantly above analysts expectations. Net income was $5.6 million in the second quarter, compared with $6.4 million or $0.32 per share a year ago. Revenues for the 1995 quarter totaled $129 million versus $130.7 million in the prior year. Sales for the first six months of this year were $246.9 million, 1.9 percent ahead of last year. Net income was $6.8 million compared to $8.8 million for the first half of 1994. "We are encouraged by these strong earnings, which were driven by good results in our oral care and specialty A contract under seal. A specialty is a written document that has been sealed and delivered and is given as security for the payment of a specifically indicated debt. products units," Dwight Minton Minton, English family of potters. The first important member of the family was Thomas Minton, 1765–1836, who founded a small pottery at Stoke-on-Trent. He first engraved the famous willow-pattern ware. , chairman and chief executive officer said. Church & Dwight Co., Inc. is the manufacturer of ARM & HAMMER(R) consumer and specialty products. -0-
CHURCH & DWIGHT CO. INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets (Unaudited)
(Dollars in thousands)
June 30, 1995 July 1, 1994
Assets
Current assets
Cash, equivalents and securities $ 8,683 $ 6,690
Accounts receivable 51,756 53,606
Inventories 50,492 58,197
Deferred income taxes 12,030 9,797
Prepaid expenses and other current
assets 6,854 5,265
Total current assets 129,815 133,555
Property, plant and equipment (net) 143,972 129,864
Note receivable from joint venture 11,000 11,000
Equity investment in joint venture 13,962 15,150
Intangibles and other assets 7,677 8,310
Total assets $306,426 $297,879
Liabilities and Stockholders' Equity Current liabilities $105,752 $ 96,125 Long-term debt 7,500 7,500 Deferred items 22,571 21,170 Nonpension postretirement and postemployment benefits 13,511 11,904 Stockholders' equity 157,092 161,180 Total liabilities and stockholders' equity $306,426 $297,879 -0-
CHURCH & DWIGHT CO. INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income (Unaudited)
(in thousands, except per share data)
Three months ended
June 30, 1995 July 1, 1994
Net sales $128,980 $130,656 Cost of sales 75,253 72,858 Gross profit 53,727 57,798 Selling, general and administrative expenses 47,002 49,393 Income from operations 6,725 8,405 Other income (expense), net 29 (17) Equity in joint venture income 2,253 2,194 Income before taxes 9,007 10,582 Income taxes 3,365 4,194 Net income $5,642 $6,388 Net income per share $ 0.29 $ 0.32 Dividends per share $ 0.11 $ 0.11 Weighted average shares outstanding 19,559 19,673
-0-
Six months ended
June 30, 1995 July 1, 1994
Net sales $246,943 $242,167 Cost of sales 143,946 137,049 Gross profit 102,997 105,118 Selling, general and administrative expenses 96,522 94,935 Income from operations 6,475 10,183 Other income (expense), net (12) 415 Equity in joint venture income 4,682 3,815 Income before taxes 11,145 14,413 Income taxes 4,360 5,606 Net income $6,785 $8,807 Net income per share $ 0.35 $ 0.44 Dividends per share $ 0.22 $ 0.22 Weighted average shares outstanding 19,546 19,872 CHURCH & DWIGHT CO., INC. DECLARES 378TH REGULAR QUARTERLY DIVIDEND PRINCETON, NJ, July July: see month. 27, 1995--Church & Dwight Co., Inc. (NYSE:CHD), manufacturers of ARM & HAMMER(R) products, reported that the Board of Directors declared de·clare v. de·clared, de·clar·ing, de·clares v.tr. 1. To make known formally or officially. See Synonyms at announce. 2. To state emphatically or authoritatively; affirm. 3. a regular quarterly dividend of 11 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . The dividend will be payable September September: see month. 1, 1995 to stockholders of record at the close of business August 17, 1995. This is the Company's 378th regular quarterly dividend. CONTACT: Church & Dwight Co., Inc. Anthony P. Deasey, 609/683-7069 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion