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Church & Dwight tops mark
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July 27, 2001: 8:15 a.m. ET
Arm & Hammer products maker's profits rise; new president out
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NEW YORK (CNNfn) - Household products maker Church & Dwight Co. announced an unexpected rise in second-quarter profits, and also announced the departure of its new president.
The maker of Arm & Hammer brand products earned net income of $13.5 million, or 33 cents a diluted share, up from $12.4 million, or 31 cents a share, a year earlier.
Revenue rose 27 percent to $257.1 million, lifted mostly by the addition of USA Detergents Inc., which nearly doubled the company's laundry unit sales to $109.2 million from $58.3 million.
The company also said that Jon Finley, who joined the Princeton, N.J.-based company as president and chief operating officer April 1, has resigned. It gave no details about the reason for his quick departure.
Finley had been senior vice president of General Mills Inc. (GIS: Research, Estimates), where his duties included evaluating potential major acquisitions, such as its recent acquisition of Pillsbury Co. Since he became president, Church & Dwight has announced two major deals, the USA Detergents purchase and the acquisition of the consumer products unit of Carter-Wallace Inc. (CAR: Research, Estimates)
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Shares of Church & Dwight (CHD: Research, Estimates) gained 8 cents to $24.33 Thursday ahead of the report. 
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Church & Dwight
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