Church & Dwight Co.: Full Year Adjusted EPS Rose 10% On 27% Operating Income and 36% Sales Gain; 4Q Adjusted EPS was Flat On 35% Operating Income and 50% Sales Gain.

Business Editors

PRINCETON, N.J.--(BUSINESS WIRE)--Feb. 11, 2002

Church & Dwight Co., Inc. (NYSE:CHD) today reported that, for the year 2001, net income increased to $47.0 million or $1.15 per diluted share from $33.6 million or $0.84 per diluted share in the previous year. The year's results included a first quarter $1.4 million or $0.02 per share plant shutdown charge, and a fourth quarter $0.15 per share accounting charge related to the step-up of opening inventory values by the Company's new affiliate, Armkel LLC, which is described below in the Armkel section of this release. The previous year's results included a $1.2 million or $0.02 per share deferred compensation gain, and a $23.9 million or $0.38 per share plant shutdown charge. Adjusting for these unusual items, earnings per share increased 10% to $1.32 from $1.20 in 2000. On a comparable basis, adjusted operating income increased 27% to $94.9 million from $74.8 million a year ago. Sales increase...

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