BusinessAugust 13, 2001
MEMO: P&G REPORTS EARNINGS FOR FOURTH QUARTER
Consumer products giant Procter & Gamble Co. posted a fourth-quarter loss of $320 million due to a massive $1.16 billion restructuring charge. For the three months ended June 30, the company best known for Tide detergent, Crest toothpaste and Pampers diapers lost 23 cents per share, compared with earnings of $516 million or 36 cents per share for the same period last year...
Consumer products giant Procter & Gamble Co. posted a fourth-quarter loss of $320 million due to a massive $1.16 billion restructuring charge.
For the three months ended June 30, the company best known for Tide detergent, Crest toothpaste and Pampers diapers lost 23 cents per share, compared with earnings of $516 million or 36 cents per share for the same period last year.
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Excluding the charge, P&G earned $837 million or 60 cents per share, compared with $777 million or 55 cents per share in the fourth quarter of 2000.
Fourth-quarter sales for the Cincinnati-based company were $9.58 billion, down 1 percent from $9.66 billion in the same period last year.
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