Church & Dwight Up 5% After Reporting Positive Earnings

Shares of Church & Dwight

are up more than 5% after the company reported positive earnings this morning. The company today announced that full year 2011 reported earnings per share increased 13% to $2.12 per share compared to $1.87 per share in the prior year. Full year 2011 earnings per share includes a $0.09 charge for a previously announced deferred tax valuation allowance and full year 2010 earnings per share includes an $0.11 charge for the settlement of the Company's US pension benefit obligation. Adjusted earnings per share increased 12% to $2.21 in 2011. Full year 2011 net sales increased 6.2% to $2,749 million from $2,589 million in 2010. Organic sales growth for 2011 was 4.1%, driven by volume growth of 3.9% and the 0.2% positive effect of price. Organic sales exclude the impact of foreign exchange rate changes, acquisitions, divestitures, sales in anticipation of an information system upgrade, a discontinued product line, a change in shipping terms, and a change in the fiscal calendar for three foreign subsidiaries.