Consumer products giant warns for second half of '04
Monday, September 20th 2004, 9:50 am
By: News On 6
NEW YORK (AP) _ Consumer products giant Colgate-Palmolive is warning Wall Street that its earnings in the second half of the year will fall short of expectations.
It is citing higher marketing spending and rising packaging and raw material costs.
Colgate-Palmolive expects third and fourth-quarter earnings between 57 cents to 59 cents a share. Analysts surveyed by Thomson First Call had predicted the company would earn 67 cents in the third quarter and 68 cents in the fourth quarter.
The company sells products in more than 200 countries and is behind brands such as Colgate toothpaste, Palmolive dishsoap, and Fab detergent, as well as Hill's Science Diet pet food.