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Gillette 1Q beats estimates
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April 20, 2000: 12:05 p.m. ET
Personal care products maker posts per-share profit flat from year-ago figure
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NEW YORK (CNNfn) - Gillette Co. reported a first-quarter profit Thursday that beat Wall Street's expectations, but which was flat compared with the year-ago per-share figure.
For the first quarter, the Boston-based personal care products maker reported net income of $258 million, or 24 cents a share, compared with net income of $269 million, or 24 cents a share, in the year-earlier quarter.
The company's earnings beat the 22 cents a share predicted by analysts in a survey by earnings tracker First Call/Thomson Financial.
The maker of razor blades, Braun electric shavers and Oral-B toothbrushes posted revenue for the quarter of $2.05 billion, a 5 percent increase from the $1.94 billion in the year-earlier quarter.
While sales from blades and razors rose 10 percent and Braun products rose 14 percent, sales of stationary products declined 4 percent and Duracell batteries sales fell 2 percent for the quarter, the company said. Toiletries sales rose 2 percent and sales of the Oral-B toothbrush rose 8 percent.
 "We made substantial progress on several fronts during the first quarter," said Michael Hawley, Gillette's chairman and chief executive officer. "We generated good sales growth, as double-digit gains for blades and razors and Braun more than offset softness in certain battery markets and a significant unfavorable exchange effect."
Shares of Gillette (G: Research, Estimates) gained 1-7/8 to 39 in late-morning trading on the New York Stock Exchange Thursday. 
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Gillette
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