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The
company, which gets more than three-fourths of its revenue from
outside the United States, has been raising prices to counter
the impact of the stronger dollar.
But that has taken a hit on volumes in regions such as Latin
America, the company's biggest market by sales.
The average value of the dollar rose 11.7 percent against a
basket of currencies in the quarter, compared with a year
earlier.
The company raised prices by 13 percent in Latin America in the
three months ended Dec.31, pushing down volumes by 4 percent.
Total net sales fell 7.6 percent to $3.90 billion.
Analysts on average had expected revenue of $3.93 billion,
according to Thomson Reuters I/B/E/S.
The company reported a loss of $458 million, or 51 cents per
share, compared with a profit of $628 million, or 68 cents per
share.
Colgate took a $1.08 billion charge in the quarter related to a
change in the way it accounts for its business in Venezuela.
The company said it would no longer include the assets and
liabilities of its Venezuelan operations in its balance sheet.
Venezuela's crumbling economy has forced many major U.S.
corporations with significant presence to either exit, or reduce
their operations in the country.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Maju Samuel and Sriraj Kalluvila)
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