(RTTNews) - Tuesday, consumer products maker Church & Dwight Co. Inc. (CHD: News ) reported a surge in net income for the third quarter as revenue increased driven mainly by higher sales from consumer domestic division. The company also raised its full-year 2009 earnings per share guidance range.

For the quarter, net income attributable to the company was $70.0 million or $0.98 per share, up from $49.0 million or $0.69 per share in the same quarter last year. Results include a favorable legal settlement fees of $20.0 million or $0.17 per share.

Excluding charges, net income for the quarter was $0.86 per share, compared to $0.73 per share in the previous year.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.83 per share for the quarter. Analysts' estimates typically exclude special items.

The Princeton, New Jersey-based company's quarterly net sales was $646.2 million, up from $630.7 million in the comparable quarter last year. Analysts expected the company to report revenue of $642.31 million for the quarter.

Organic sales for the quarter grew 5.7% compared with the prior-year quarter. Sales from Consumer Domestic division increased to $481.7 million from $444.8 million in the year ago.
Consumer International's sales declined to $104 million from $112.6 million a year ago, and sales from Specialty Products Division was $60.4 million, down from $73.4 million in the previous year.

For the current quarter, gross margin increased to 44.1% from 39.8% in the same quarter last year reflecting lower commodity costs, price increases and the benefits of cost reduction programs, partially offset by an asset impairment charge of approximately $4 million related to an international subsidiary.

For the nine month-period, net income attributable to the company was $190.75 million or $2.67 per share, higher than $150.94 million or $2.16 per share in the same period last year. Year-to-date, net sales increased to $1.85 billion from $1.77 billion in the prior year.

Looking ahead, James Craigie, chairman and chief executive officer said, "In the fourth quarter we expect organic sales growth of approximately 4% for global consumer products. The 4% organic growth in global consumer products will be partially offset by depressed sales in our Specialty Products division due to the weak milk market, resulting in a net 2% organic sales growth for the total Company."

The company increased its full year adjusted earnings guidance to a range of $3.40 to $3.43 per share from the previous expectation of $3.35 to $3.40 per share. Analysts currently anticipate the company to report earnings of $3.43 per share for full year 2009.

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