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Mr. Lafley will note the importance of strategic consistency in thisdifficult and volatile economic environment, and tell investors that P&G'slong-term growth will be driven by a continued focus on the Company's corefundamentals -- building and supporting leading brands; ensuring that itsbrands are delivering superior consumer value; leading innovation thatdelights consumers and differentiates its brands from competitors; andmanaging cash, cost and organizational productivity with strict discipline.
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In addition, the Company will confirm that, while it is operating in amore volatile environment, it is currently on track to meet its earnings pershare guidance for both the October-December quarter and fiscal year 2009.P&G continues to expect earnings per share of $1.58 to $1.63 for the October-December quarter and $4.28 to $4.38 for the fiscal year.
P&G will also confirm that it continues to grow organic sales for both thequarter and fiscal year despite the difficult economic environment. P&Gexpects to grow organic sales for the October-December quarter, but below thefour to six percent growth range estimated previously. This change is drivenprimarily by reductions in retailer, distributor and consumers' in-homeinventories in both developed and developing markets. For the fiscal year,the Company expects to deliver organic sales growth in the range of four tosix percent, consistent with previous guidance.
The meeting will be webcast at www.pg.com/investors beginning at 8:30 a.m.ET, and will also be available for replay.
Please note that references to "organic sales" refer to sales excludingthe impacts of acquisitions, divestitures and foreign exchange.
About Procter & Gamble
Three billion times a day, P&G brands touch the lives of people around theworld. The company has one of the strongest portfolios of trusted, quality,leadership brands, including Pampers(R), Tide(R), Ariel(R), Always(R),Whisper(R), Pantene(R), Mach3(R), Bounty(R), Dawn(R), Gain(R), Pringles(R),Charmin(R), Downy(R), Lenor(R), Iams(R), Crest(R), Oral-B(R), Actonel(R),Duracell(R), Olay(R), Head & Shoulders(R), Wella(R), Gillette(R), Braun(R) andFusion(R). The P&G community includes approximately 138,000 employees workingin over 80 countries worldwide. Please visit http://www.pg.com for the latestnews and in-depth information about P&G and its brands.
Forward-Looking Statements
All statements, other than statements of historical fact included in thisrelease, are forward-looking statements, as that term is defined in thePrivate Securities Litigation Reform Act of 1995. Such statements are based onfinancial data, market assumptions and business plans available only as of thetime the statements are made, which may become out of date or incomplete. Weassume no obligation to update any forward-looking statement as a result ofnew information, future events or other factors. Forward-looking statementsare inherently uncertain, and investors must recognize that events coulddiffer significantly from our expectations. In addition to the risks anduncertainties noted in this release, there are certain factors that couldcause actual results to differ materially from those anticipated by some ofthe statements made. These include: (1) the ability to achieve business plans,including with respect to lower income consumers and growing existing salesand volume profitably despite high levels of competitive activity, especiallywith respect to the product categories and geographical markets (includingdeveloping markets) in which the Company has chosen to focus; (2) the abilityto successfully execute, manage and integrate key acquisitions and mergers andto achieve the cost and growth synergies in accordance with the stated goalsof these transactions; (3) the ability to manage and maintain key customerrelationships; (4) the ability to maintain key manufacturing and supplysources (including sole supplier and plant manufacturing sources); (5) theability to successfully manage regulatory, tax and legal matters (includingproduct liability, patent, intellectual property, and competition law matters),and to resolve pending matters within current estimates; (6) the ability tosuccessfully implement, achieve and sustain cost improvement plans inmanufacturing and overhead areas, including the Company's outsourcing projects;(7) the ability to successfully manage currency (including currency issues involatile countries), debt, interest rate and commodity cost exposures andsignificant credit or liquidity issues; (8) the ability to manage continuedglobal political and/or economic uncertainty and disruptions, especially inthe Company's significant geographical markets, as well as any politicaland/or economic uncertainty and disruptions due to a global or regional creditcrisis or terrorist and other hostile activities; (9) the ability tosuccessfully manage competitive factors, including prices, promotionalincentives and trade terms for products; (10) the ability to obtain patentsand respond to technological advances attained by competitors and patentsgranted to competitors; (11) the ability to successfully manage increases inthe prices of raw materials used to make the Company's products; (12) theability to stay close to consumers in an era of increased media fragmentation;(13) the ability to stay on the leading edge of innovation and maintain apositive reputation on our brands; and (14) the ability to successfullyseparate the Company's coffee business. For additional information concerningfactors that could cause actual results to materially differ from thoseprojected herein, please refer to our most recent 10-K, 10-Q and 8-K reports.
SOURCE The Procter & Gamble Company
