NEW YORK CITY (dpa-AFX) - Consumer products major Colgate-Palmolive Co. (CL) posted a drop in its fourth-quarter net income attributable to the company of $590 million or $1.21 per share from last year's $624 million or $1.24 per share. Latest quarter earnings included $44 million of aftertax charges or $0.09 per share resulting from the prior disclosed implementation of business realignment and other cost-saving initiatives, the sale of land in Mexico and an earlier disclosed competition law matter in France regarding a divested detergent business, the company added. Excluding items, non-GAAP net income for the recent quarter amounted to $634 million or $1.30 per share versus $624 million or $1.24 per share a year ago, in line with expectations. On average, 22 analysts polled by Thomson Reuters expected earnings per share of $1.30 for the quarter. Analysts' estimates typically exclude one-time items. However, quarterly worldwide net sales totaled $4.17 billion, up 5.0% from $3.98 billion in the 2010 period, while 17 analysts estimated revenues of $4.19 billion for the quarter. Further, the company stated, 'If average exchange rates for full year 2012 were to equal current spot rates, currency translation would decrease full year diluted earnings per share growth by approximately 4%.'
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