CINCINNATI (AP) -- Procter & Gamble Co. says its fiscal fourth-quarter net income dropped due to a write down related to its Braun Appliance business and other one-time costs but adjusted results beat expectations.
Its shares edged up 1 percent in premarket trading.
The maker of Tide detergent and Crest toothpaste says net income totaled $1.88 billion, or 64 cents per share, for the three months ended June 30. That's down from $3.63 billion, or $1.24 per share in the prior year quarter.
Excluding one-time items, adjusted earnings totaled 79 cents per share. Analysts expected 77 cents per share.
Revenue rose 2 percent to $20.66 billion. Analysts expected revenue of $20.54 billion.
The company expects net income in fiscal 2014 to rise 5 percent to 7 percent with revenue up 1 percent to 2 percent in fiscal 2014.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
John Matarese has important information for anyone shipping gifts.
John Matarese reports on a big holiday price drop
John Matarese reports on one possible downside of Smart TV's
Nestled on a 22-acre wooded estate featuring a storybook Tudor mansion, St. Ursula Villa has everything a private academy could offer.…
The Colerain Township Board voted Tuesday to expire the contract it has with the Hamilton County Sheriff's Office in early 2014.
John Matarese shows which tablets are best for kids
John Matarese has a report on beers people are turning away from
Investors watch insider selling trends for signs that company executives think their stock price has peaked. They had a lot of transactions…
The Mega Millions jackpot jumped overnight after no one won last night’s drawing.
John Matarese has a caution for anyone looking for extra holiday money