Procter & Gamble Q1 net earnings decrease

Procter & Gamble, a US-based consumer goods company, has reported net earnings of $3.31 billion, or $1.06 per diluted share, for the first quarter ended September 2009, a 1% decrease, compared to $3.35 billion, or $1.03 per diluted share, for the first quarter ended September 2008.

Net sales for the first quarter of fiscal 2010 decreased 6% to $19.81 billion, from $20.98 billion for the first quarter of fiscal 2009.

Bob McDonald, president and CEO of Procter & Gamble, said: "Our September quarter results give us encouragement we are making the right choices to grow market share profitably. We are investing in innovation, expanding our portfolio and improving consumer value to serve more consumers, in more parts of the world, more completely.

"We are driving simplification and improving execution while leveraging scale to create cost efficiencies that help fund these investments and accelerate growth."

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Related terms: ceo, consumer, market share, president