Colgate-Palmolive Q4 Net Profit Climbs 12 Percent
Colgate-Palmolive, maker of toothpaste, soap, pet food and a host of other household products, said today net income per share rose 12 percent in the fourth quarter, topping Wall Street estimates by a penny.
Net income was 46 cents a share for the quarter, compared with 41 cents a year ago, the maker of Colgate toothpaste, Hill's Science Diet pet foods and Ajax dishwashing liquid said.
Analysts on average had forecast earnings of 45 cents a share, according to market research firm First Call/Thomson Financial.
Global sales rose 8 percent in the quarter to $2.4 billion, excluding currency effects.
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Reebok Turns A Profit, Sales Essentially Flat
Reebok International, the world's No. 2 shoemaker, said today it turned a profit in the fourth quarter, reversing a year-ago loss, even though sales were essentially flat.
Canton, Mass.-based Reebok, whose brands include Rockport and Ralph Lauren, said it earned $6.2 million, or 11 cents a share, during the fourth quarter. That compares with a net loss of $14.7, or 26 cents a share, in the year-ago quarter, which included a $15.1 million charge for settling a lawsuit and restructuring.
Analysts, on average, were looking for Reebok to earn 7 cents a share, according to research firm First Call/Thomson Financial.
Reebok's fourth-quarter sales remained about even at $622.5 million, compared with $622.8 million in the year-ago quarter. BACK TO TOP
Sales of Gatorade Push Up Quaker Oats
Cereal and Gatorade sports drink maker Quaker Oats said today that fourth-quarter operating income rose 23 percent as strong sales of Gatorade helped boost results.
The Chicago-based company, which agreed to be bought by No. 2 U.S. soft drink maker PepsiCo in December, said it had operating income of $102.0 million in the quarter versus $82.6 million one year ago.
Fourth-quarter earnings per share before unusual items were 37 cents compared to 33 cents one year ago. The results matched the recent poll of analysts by First Call/Thomson Financial, which tracks earnings estimates.
Net sales rose to $995.9 million compared to $949.1 million one year ago. BACK TO TOP
Verizon Meets Estimates
Verizon Communications, the No. 1 U.S. local telephone company, reported today fourth-quarter profits in line with Wall Street forecasts as data and wireless sales surged and its long-distance subscriber base grew.
The company also repeated its outlook for 2001 earnings.
"Our solid operating performance in 2000 confirms both the validity of our business model and our ability to execute on it," said Verizon Chairman and Co-Chief Executive Charles Lee.
Verizon, formed through last year's merger of Bell Atlantic and GTE , said profits rose to $1.9 billion, or 77 cents a share, compared with $1.7 billion, or 63 cents a share, a year ago.
The results were in line with company and Wall Street forecasts per share, according to research firm First Call/Thomson Financial.
The company said its fourth-quarter results were 70 cents per diluted share, on net income of $1.9 billion, an 11.1 percent rise from 63 cents, or $1.7 billion, in the same period the year before.
Verizon said fourth-quarter revenues rose to $16.9 billion from $15.8 billion for the year-ago period. The reported results for all periods incorporate the net after-tax effect of gains, charges and other adjustments.