The company reported net earnings of $253.2m, or diluted earnings per share (EPS) of $0.76, for the first quarter of the year. First-quarter net earnings included $262.3m, or EPS of $0.79 from continuing operations, as well as $9.1m of costs, or EPS of $0.03, from discontinued operations, which represents earnings and retained costs of divested businesses.
Reported first-quarter EPS increased by 19% compared with 2005, and EPS from continuing operations increased by 18%.
Net earnings for the 2005 first quarter of $223.1m, or EPS of $0.64, included EPS of $0.67 from continuing operations and $9.2m of costs, or EPS of $0.03, for discontinued operations.
“Our strong first-quarter performance once again demonstrated that executing our strategic plan delivers solid financial results,” said chairman Herbert Henkel. He added: “All of our business segments achieved revenue and earnings growth and improved operating margins compared with the first quarter of last year.”
Henkel also said that these results largely reflected the success of the company’s innovations, which continue to generate market share gains in strong end markets, the benefits of its acquisition programme and the growth of highly profitable recurring revenues.
