[R]1:00PM New York - Church & Dwight rose 3.8% or $2.00 to $54.92 after reporting fourth quarter earnings.[/R]

Church & Dwight (CHD: chart) reported full-year 2007 sales increased 14% to $2.22 billion from $1.95 billion in 2006. Organic sales growth for 2007 was approximately 5%, adjusting for revenue related to acquisitions and foreign exchange.

Earnings per share were up 19% to $2.46 compared to $2.07 in the prior year. Cash flow from operations increased 34% to $249 million compared to $186 million in 2006, and free cash flow (cash from operations less capital expenditures) was up 44% to $200 million versus $139 million in the prior year.

Net income was $31.7 million in the fourth quarter or $0.46 per share, an increase of $0.10 per share from the prior period''s net income of $23.9 million or $0.36 per share.

This year''s fourth quarter results include a $3.5 million charge relating to the reorganization of the Company''s Canadian business and trademark impairment charges of $4.2 million related to certain international brands. Last year''s results included $12.9 million of charges related to trademark impairments and a loss on the sale of a small U.S. plant.

Net sales for the fourth quarter increased 10% to $579.7 million. Organic sales, which exclude the impact of foreign exchange, increased approximately 9% in the quarter.

The company forecasted 13% rise in earnings in the year 2008 to $2.77 per share despite rising commodities costs and slowing economy.

The company is planning to launch new versions of condoms named Thintensity and Magnum thin to complement its Trojan product line. In addition, in the first quarter of 2008, First Response is launching a digital pregnancy test kit and a daily ovulation test kit.

In oral and skin care, the Company will be expanding its Nair depilatory product line with Nair Shower Power, a convenient way to remove hair in the shower, and Nair Soothing Wax strips.

The Company will also be introducing three new SpinBrush products in the battery-powered toothbrush category, and launching two new oral care products under the Arm & Hammer name: Age Defying toothpaste, to protect and rebuild enamel; and Whitening Booster, an additive used with any toothpaste for convenient whitening.

In Household products, the Company recently launched Arm & Hammer Laundry Detergent with Oxi Clean stain fighters in both powdered and liquid form.