Church & Dwight to Record 4th Quarter Non-Cash Tax Charge for a Deferred Tax Valuation Allowance
PRINCETON, N.J.--(BUSINESS WIRE)--Jan. 4, 2012--
Church & Dwight Co., Inc. is exploring strategic options for its
Specialty Chemical business in Brazil. The business, which has annual
revenues of approximately $40 million, markets sodium bicarbonate, dairy
products and other chemicals in Brazil. Due to the limited anticipated
future profitability of this business, the Company will incur a non-cash
charge to earnings of approximately $0.10 per share in the fourth
quarter of 2011, reflecting the establishment of a valuation allowance
against deferred tax assets.
Aside from the $0.10 charge, the Company remains confident in its
previously announced full year earnings per share estimate for 2011.
Church & Dwight Co., Inc. manufactures and markets a wide range of
personal care, household and specialty products under the Arm & Hammer
brand name and other well-known trademarks.
This release contains forward-looking statements including, among
others, statements regarding a non-cash charge related to the
Brazilian business and the Company’s earnings per share estimate. These
statements represent the intentions, plans, expectations and beliefs of
the Company, and are subject to risks, uncertainties and other factors,
many of which are outside the Company’s control and could cause actual
results to differ materially from such forward-looking statements. The
uncertainties include assumptions as to market growth and consumer
demand (including the effect of political and economic events on
consumer demand), retailer actions in response to changes in consumer
demand and the economy, raw material and energy prices, the financial
condition of major customers and suppliers, interest rate and foreign
currency exchange rate fluctuations, changes in marketing and
promotional spending and unanticipated financial results of the
Brazilian operations. Other factors that could materially affect actual
results include the outcome of contingencies, including litigation,
pending regulatory proceedings, environmental matters and the
acquisition or divestiture of assets. For a description of
additional factors that could cause actual results to differ materially
from the forward looking statements, please see the Company’s quarterly
and annual reports filed with the SEC, including information in the
Company’s annual report on Form 10-K in Item 1A, “Risk Factors”.
Source: Church & Dwight Co., Inc.
Church & Dwight Co., Inc.
Maureen K. Usifer, 609-683-5900
President Investor Relations