Church & Dwight reports 1994 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)--Jan. 26, 1994--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 announced that sales for the year ended Dec. 31, 1994 were $491.0 million, compared to $507.7 million in 1993. Earnings for the year of $6.1 million, or 31 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. , after a pre-tax pre-tax adj → anterior al impuesto pre-tax adj → avant impôt(s) pre-tax adj → al lordo d'imposta restructuring charge restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. of $6.9 million, or 21 cents per share, were down from $26.3 million for the previous year, in line with the company's Dec. 8, 1994 announcement. In the fourth quarter, the company had a net loss of $2.4 million, or 12 cents per share, after providing $1.6 million to cover previously announced restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). expenses associated with liquid laundry Laundry can be:
Before industrialization detergent detergent (dētûr`jənt, dĭ–), substance that aids in the removal of dirt. Detergents act mainly on the oily films that trap dirt particles. manufacturing. This compares to earnings of $7.2 million, or 36 cents per share, for the fourth quarter of 1993. Sales were $116.3 million, 6.4 percent below the same quarter last year. Church & Dwight Co., Inc. is the manufacturer and marketer of ARM & HAMMER(R) consumer 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. -0-
CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(In thousands, except per share data)
Three Months Ended Twelve Months Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
1994 1993 1994 1993
Net Sales $116,300 $124,263 $491,048 $507,651 Cost of sales 71,764 69,454 281,271 272,843 Gross profit 44,536 54,809 209,777 234,808 Selling, general and administrative expenses 49,005 44,781 201,362 196,281 Restructuring charge 1,598 2,904 6,941 2,904 Income (loss) from operations (6,067) 7,124 1,474 35,623 Other income (expense), net 146 2,395 384 5,211 Equity in joint venture income 2,018 1,707 7,874 6,962 Income/(loss) before taxes and cumulative effect of accounting changes (3,903) 11,226 9,732 47,796 Income taxes (1,472) 4,003 3,615 18,310 Income/(loss) before cumulative effect of accounting changes (2,431) 7,223 6,117 29,486 Cumulative effect of accounting changes (net of tax effect) - - - (3,200) Net income/(loss) ($2,431) $7,223 $6,117 $26,286 Earnings Per Share: Income/(loss) before cumulative effect of accounting changes ($0.12) $0.36 $0.31 $1.46 Cumulative effect of accounting changes - - - (0.16) Net income/(loss) per share ($0.12) $0.36 $0.31 $1.30 Dividends per share $0.11 $0.11 $0.44 $0.42 Weighted average shares outstanding 19,543 20,076 19,706 20,223 -0-
CHURCH & DWIGHT CO., INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(Dollars in thousands) Dec. 31, 1994 Dec. 31, 1993 Assets Current Assets Cash, equivalents and securities $7,635 $9,581 Accounts receivable 44,404 42,340 Inventories 54,683 52,739 Deferred income taxes 11,927 11,149 Prepaid expenses and other current assets 5,663 7,644 Total Current Assets 124,312 123,453 Property, Plant and Equipment (Net) 138,461 122,195 Note Receivable from Joint Venture 11,000 11,000 Equity Investment in Joint Venture 13,868 16,557 Intangibles and Other Assets 7,946 8,536 Total Assets $295,587 $281,741 Liabilities and Stockholders' Equity Current Liabilities $99,776 $68,812 Long-Term Debt 7,500 7,644 Deferred Items 21,509 24,561 Nonpension Postretirement and Postemployment Benefits 12,861 11,357 Stockholders' Equity 153,941 169,367 Total Liabilities and Stockholders' Equity $295,587 $281,741 CONTACT: Church & Dwight Co. Inc., Princeton Anthony P. Deasey, 609/683-7069 |
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