P&G reports positive Q4, fiscal 2010 sales

CINCINNATI Procter & Gamble experienced a 5% jump in its net sales to $18.9 billion for the fourth quarter and a 3% rise to $78.9 billion for fiscal 2010, the consumer goods maker said Tuesday.

Diluted net earnings per share were 71 cents for the fourth quarter and $4.11 for the fiscal year, near the top end of the company's guidance range of $4.06 to $4.12.  Diluted net earnings per share from continuing operations increased four percent in fiscal 2010 to $3.53. Core EPS, which represents diluted net earnings per share from continuing operations excluding certain items, was up 6%to $3.67 for the fiscal year driven by sales growth and operating margin expansion. The company generated record adjusted free cash flow of $14 billion in fiscal 2010.

"We are executing on all three dimensions of our growth strategy – touching and improving more consumers' lives, in more parts of the world, more completely," said P&G chairman, president and CEO Bob McDonald. "Our results in fiscal 2010 were ahead of our original expectations, and we are pleased with the trend of the business. The investments we've made in innovation, marketing support and consumer value have delivered accelerating unit volume and profitable market share growth throughout the year, which are clear indications that our strategy is working."

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