P&G profit falls in 4Q as marketing costs rise

[August 03, 2010]  CINCINNATI (AP) -- Procter & Gamble Co.'s fourth-quarter net income fell 12 percent, while sales rose as the maker of Tide and Pampers stepped up marketing and new product development.

The company says it has been spending more on innovation and marketing. It has boosted sales in a tough economy with price cuts, cheaper versions and upgraded premium products of its big-name brands, and more advertising.

Foreign exchange impacts also undercut profits in the quarter, P&G reported Tuesday.

The Cincinnati-based consumer products giant says it earned $2.2 billion, or 71 cents per share, down from nearly $2.5 billion, or 80 cents a share, a year prior. Revenue increased 5 percent to $18.9 billion.

Analysts expected 73 cents a share on $19.1 billion in revenue.

[Associated Press; By DAN SEWELL]

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