Colgate-Palmolive reported a 27% increase in net income for its 2009 fiscal fourth quarter (end-December 31) compared to the same period of 2008, thanks in part to increased sales of its oral care products worldwide.
Earnings for the quarter increased to $631 million from $497 million in the same quarter a year ago, while sales climbed to $4.08 billion from $3.66 billion year-over-year.
An increase in advertising spending on its toothpaste and toothbrush products helped boost volumes 3%, the company noted.
"We are delighted that Colgate's global market shares in toothpaste and manual toothbrushes both finished the year at record highs," said Colgate CEO Ian Cook in a press release.
Colgate's share of the global toothpaste market strengthened to 45.1% for the year, led by share gains in Mexico, Brazil, China, Hong Kong, India, Russia, and Venezuela, he noted. Colgate also strengthened its leadership in manual toothbrushes, with its global market share in that category reaching 31% year to date, according to Cook.
The results for 2009 bode well "for another year of double-digit earnings-per-share growth in 2010," he added.
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