P & G REPORT

CINCINNATI -- The Procter & Gamble Company announced this week that net earnings for the January-March quarter were $424 million, an increase of 5 percent over the $404 million during the same quarter year ago. Net earnings per share were $1.16, up from the $1.14 earnings per share a year ago.

Net sales for the quarter were $6,795,000,000, up 11 percent over net sales of $6,123,000,000 during the same three months of 1990.

For the first nine months of the fiscal P&G year, net earnings were $1,469,000,000, an increase of 11 percent over net earnings of $1,318,000 for the same period a year ago. Net earnings per share were $4.09, up from the $3.78 figure for a year ago. Net sales of $20,304,000,000 reflect an increase of 14 percent over the $17,865,000,000 for the same nine months a year ago.

"Net earnings for the January-March quarter reflect substantial investment in new products, principally expansion of compact detergents in the U.S., as well as heightened competitive activity in the coffee business," said chairman Edwin L. Artzt.