NEW YORK (CNN/Money) - Procter & Gamble Co., the maker of Tide detergent, Crest toothpaste and Pampers diapers, raised its quarterly profit forecast Monday in part because the weakening dollar lifted sales.

Procter & Gamble said March-quarter sales should see high single-digit gains, "reflecting the solid volume growth and favorable exchange rates."

The company also said "core" earnings per share excluding restructuring charges are expected to grow in the 13-to-14 percent range. Analysts surveyed by First Call expected Procter & Gamble to earn 95 cents per share in its third quarter ending this month, up 13 percent from the 84 cents earned a year ago.

Procter & Gamble, which released the news through a press release after the market closed, said it will offer more details to analysts and investors in a conference call Monday morning.

The company invited analysts from any firm to attend a presentation that Tuesday at a Merrill Lynch investors conference, raising eyebrows. Typically, sell-side analysts are not invited to conferences hosted by other firms. The company also said that Chief Executive A.G. Lafley, who was not originally on the schedule, would attend the presentation and also moved the time up 40 minutes to 7 a.m. EST.

"I would say that I expect that Procter is going to make an announcement and it's very possible that it's related to an acquisition," said Simon Burton, an analyst at Banc of America Capital Management.

Many analysts suggested the deal could be for Wella, the German hair-care product maker. A source close to the situation said on Monday that P&G, which bought the Clairol hair-care business in 2001 from Bristol-Myers Squibb for $4.95 billion, is ready to bid for Wella, though it was still struggling to convince the firms family owners to sell.

P&G declined to comment on a possible deal, citing company policy, and also declined to comment on the nature of Tuesday's meeting.

The company's improved guidance comes as the dollar has fallen this year against the euro and yen. That's usually good news for multinational companies that earn profits overseas because it means more dollars when profits are converted.

The company kept its forecast for 6 percent to 8 percent volume growth and sales up in the mid-single digits before the impact of foreign exchange. Procter & Gamble said foreign exchange added 3 percent to 4 percent to overall sales growth, up from expectations of 1 percent to 2 percent.

P&G said its health-care business, which includes Crest Whitestrips tooth whiteners and the Actonel osteoporosis drug, and businesses in developing markets, have led volume gains.

Shares of Procter & Gamble (PG: Research, Estimates), based in Cincinnati, rose $2.10 to $85.50 Monday ahead of the news.  

-- from staff and wire reports