Colgate earnings to be cut by Venezuelan currency devaluation
Feb 11 (Reuters) - Colgate-Palmolive Co said on Monday it will incur a one-time loss of $120 million, or 25 cents per share, in the first quarter of 2013, related to the devaluation of the Venezuelan currency.
In addition, Colgate expects earnings to be reduced by 5 cents to 7 cents per share per quarter in 2013, due to the translation of financial statements at the new Venezuelan exchange rate.
The devaluation will not have any impact on its 2012 results, or its financial position, Colgate said.
- Russia criticizes EU sanctions, raps U.S. over Ukraine role |
- Short Gaza truce takes hold; many bodies pulled from rubble |
- First Ebola victim in Sierra Leone capital on the run
- Amazon's far-reaching ambitions, lack of profits, unnerve investors |
- Apple iPhones allow extraction of deep personal data, researcher finds