Procter & Gamble 4th quarter up on snack sale

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Associated Press

Posted on August 3, 2012 at 6:01 AM

Updated Friday, Aug 3 at 6:01 AM

CINCINNATI (AP) — Procter & Gamble says its net income climbed 45 percent in fiscal fourth quarter, boosted by the sale of its snacks division. But revenue slipped, hurt by the stronger dollar and high commodity costs.

The maker of Tide detergent, Crest toothpaste and other consumer goods says net income rose to $3.63 billion, or $1.24 per share in the April-to-June quarter. That includes 48 cents per share from the sale of its snacks business.

Excluding one-time items, it earned 82 cents per share, beating analysts' expectations of 77 cents per share.

Revenue edged down 1 percent to $20.21 billion, slightly below analyst expectations of $20.26 billion.

For the fiscal year, the Cincinnati company expects net income of $3.80 to $4. Analysts expect $3.92 per share.

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