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Dial Reports Drop in Net Income For First Quarter of 2001.

* Dial Corp. said net income dropped 39% in the first quarter, due in part to lower prices for some of its products and higher marketing costs. The maker of Dial soap, Renuzit air freshener and Armour canned meats said net income was $13.1 million, or 14 cents a share, in the quarter, boosted by $1.3 million or 1 cent a share the company recovered after restructuring its joint venture with Germany's Henkel KGaA. The company posted net income of $21.5 million, or 23 cents a share, a year ago.

Analysts had expected earnings of 11 to 15 cents a share with a consensus of 13 cents, according to market research firm Thomson Financial/First Call. Net sales rose 7.6% to $401.5 million from $373.1 million, as increased marketing of core brands like Dial soap started to show results.

"It looks as though the spending levels of the company are starting to pay off," said William Steele, consumer products analyst at Banc of America Securities. During the quarter, the company lowered list prices and trade promotion spending on some of its personal cleansing and laundry products.
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Publication:Household & Personal Products Industry
Date:May 1, 2001
Words:191
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