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Church & Dwight 3Q up
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October 27, 2000: 7:53 a.m. ET
Arm & Hammer product maker tops profit forecasts, says it is on track for 4Q
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NEW YORK (CNNfn) - Consumer products maker Church and Dwight Co. edged past earnings estimates for the third quarter Friday and said it is on track to meet forecasts for the fourth quarter.
The Princeton, N.J.-based maker of Arm and Hammer brand products earned $12.7 million, or 32 cents a diluted share, excluding special items, up from net income of $11.4 million, or 29 cents a share, a year earlier. Analysts surveyed by earnings tracker First Call forecast the company earned 31 cents a share in the most recent period.
The company took a charge in the period for a plant shutdown. Including the charge, the company posted a net loss of $1.2 million, or 3 cents a share, in the most recent period.
Revenue in the period rose 7.5 percent to $199.8 million from $185.9 million. Its laundry and household cleaners unit, its largest product line, also saw the best sales gain, rising 14 percent to $75.8 million.
The company said it is comfortable with a full year earnings forecast of $1.19 a share excluding special items, which would give it fourth quarter earnings of 30 cents a share, in line with First Call's forecast. The company also said that a $400 million partnership with USA Detergents Inc. (USAD: Research, Estimates) to combine the two company's laundry detergents business will save more than originally projected.
"Although a considerable amount of work remains, the company now
expects the synergies to be higher than originally estimated and potentially reach an annual rate of $15 million a year once (the partnership) is fully operational, which should occur in late 2001," said the company's statement.
Shares of Church & Dwight gained 19 cents to $18.25 in trading Thursday. 
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Church & Dwight Co.
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