Colgate-Palmolive's Q3 net income increases

Fri. October 31, 2008; Posted: 09:16 AM

Oct 31, 2008 (Datamonitor via COMTEX) -- CL | Quote | Chart | News | PowerRating -- Colgate-Palmolive Company has reported a net income of $499.9 million, or $0.94 per diluted share, in the third quarter ended September 30, 2008, compared to $420.1 million, or $0.77 per diluted share, in the corresponding quarter of 2007.

Worldwide sales grew 13% to $3.99 billion in the third quarter of 2008, compared to $3.53 billion in the same period of 2007.

For the first nine months of 2008, net income stood at $1.46 billion, or $2.72 per diluted share, compared to $1.32 billion, or $2.43 per diluted share, for the same period of 2007. Net sales were $11.66 billion, compared to $10.15 billion in the same period of 2007.

Ian Cook, CEO of Colgate-Palmolive Company, said: "We are delighted with our strong double-digit growth momentum in sales, operating profit, net income and earnings per share.

"Given our strong momentum and excellent savings initiatives, we are comfortable with external profit expectations for the fourth quarter and full year 2008. While our 2009 budget process is still in its initial stages, we anticipate another year of double-digit earnings per share growth in 2009."

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For full details on Colgate-Palmolive Co (CL) click here. Colgate-Palmolive Co (CL) has Short Term PowerRatings of 4. Details on Colgate-Palmolive Co (CL) Short Term PowerRatings is available at This Link.

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