Al Behrman, Associated Press
A United States flag flies outside a headquarters building for Procter & Gamble, Thursday, Aug. 4, 2011 in Cincinnati. Procter & Gamble Co.’s reported Friday Aug. 5, 2011 fourth quarter revenue and net income jumped double digits on strong sales in emerging markets such as China and India,

CINCINNATI — Procter & Gamble Co.'s fourth-quarter revenue and net income jumped by double digits on strong sales in emerging markets such as China and India. But the world's largest consumer products company sees things slowing down this quarter as the U.S. and other developed economies struggle.

The Cincinnati-based maker of Tide detergent, Pantene shampoo and Gillette shavers on Friday reported earnings per share of 84 cents, as net income rose 15 percent to $2.51 billion. Revenue jumped 10 percent to $20.86 billion. Analysts expected 82 cents on $20.57 billion.

The company's revenues were helped by higher prices for products including Pampers diapers and Cascade dish detergent. P&G and other consumer products makers have raised prices as they deal with higher raw materials and energy costs. Organic sales, a key measure that excludes impacts such as currency changes and acquisitions and sell-offs of businesses, grew by a solid 5 percent in the quarter.

P&G expects earnings for the year ahead to be in a range of $4.17 to $4.33 per share, with sales growing 5 to 9 percent. Analysts forecast $4.29 per share, with revenue of $87 billion, up 5 percent.

In the current quarter, P&G expects earnings per share in a $1 to $1.04 range; analysts were looking for $1.14. P&G also sees sales slowing down in places such as the U.S., Europe, and Japan. It projects organic sales growth of 2 to 4 percent overall, with net sales up 6 to 9 percent.

"I don't think there's any question that consumers, particularly in developed markets, are under pressure," Bob McDonald, P&G's chairman and CEO, told reporters in a conference call. He said P&G was pleased with results overall under the economic conditions in developed countries.

He said P&G feels confident it can keep growing sales behind innovative new products and by offering its well-known brands at a variety of price tiers to stave off private label trade down by shoppers.

"We've been to this movie before," McDonald said.

The fourth-quarter results looked even brighter against last year's quarter, when net income slid 12 percent as the company spent heavily on marketing to get sales moving.

For the full year ended June 30, P&G sales rose 5 percent, to $82.6 billion. Earnings per share fell from $4.11 to $3.93, on a net income decline of 7 percent to $11.8 billion. Analysts surveyed by FactSet expected $3.92 on sales of $82.27 billion. Net income on continuing operations rose 8 percent — P&G had sold off its prescription drug business.

P&G shares were off 39 cents to $59.19 in premarket trading. They've traded in 52-week range of $59.17-$67.72

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