Church & Dwight Co. Inc. Presents at Goldman Sachs Consumer Products Symposium, May-14-2013 10:25 AM. Venue: New York, New York, United States.

Church & Dwight Co. Inc. reported that the Board of Directors declared a regular quarterly dividend of twenty eight cents ($0.28) per share. This quarterly dividend will be payable June 3, 2013 to stockholders of record at the close of business on May 13, 2013.

Church & Dwight Co. Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $779.3 million compared with $690.6 million for the same period a year ago. Income from operations was $169.3 million compared with $142.7 million for the same period a year ago. Income before taxes was $163.2 million compared with $143.2 million for the same period a year ago. Net Income was $107.7 million or $0.76 per diluted share compared with $95.8 million or $0.66 per diluted share for the same period a year ago. Net cash from operating activities was $72.3 million compared with $113.9 million for the same period a year ago. Capital expenditures was $10.4 million compared with $15.1 million for the same period a year ago. Reported net sales for the first quarter increased 12.8%. Organic sales increased 2.0%, driven by 2.4% volume growth and partially offset by 0.4% unfavorable product mix and pricing. The calculation of organic sales has been reduced by 1% due to the impact of a SAP implementation in the prior year quarter. Earnings per share, up a little over 15%, which was great because of shooting for 14% on the total year. The company provided earnings guidance for the second quarter and full year of 2013. With regard to the second quarter, the company expects organic sales growth of approximately 3% to 4% and earnings per share of approximately $0.58, compared to last year's second quarter reported EPS of $0.56. Gross margin will expand again in second quarter, however, not at the same rate as first quarter. The company continues to expect 2013 organic net sales growth to be in the 3% to 4% range. Gross margin is now expected to increase by approximately 25-50 basis points for the year, which is an improvement from its previous guidance of neutral. The company plans on investing the incremental gross profit in higher media spending in support of its power brands. The company remains confident in its full year 2013 earnings per share guidance of $2.79. This is an increase of 14% on a reported basis. The Company expects the full year effective tax rate to be approximately 35%.