Household products maker Procter & Gamble Co
P&G said investment in new products released this year -- Pampers Dry Max diapers, the Fusion ProGlide razor and Crest 3D White tooth-whitening strips -- outpaced a 5 percent growth in net sales.
Next year is another big year of innovation for us, and we'll be investing behind that, Chief Financial Officer Jon Moeller said in a conference call with reporters.
Earnings for the fiscal fourth quarter ended June 30 fell to $2.19 billion, or 71 cents per share, from $2.47 billion, or 80 cents per share, a year earlier.
Analysts on average expected 73 cents per share, according to Thomson Reuters I/B/E/S.
Net sales rose 5 percent to $18.93 billion. Analysts on average expected $19.1 billion.
The company forecast first-quarter earnings of 97 cents to $1.01 a share and said organic sales are expected to grow 3 to 5 percent. Unfavorable currency exchange rates are expected to reduce net sales growth by about 3 percent.
Analysts expect first-quarter earnings of $1.04 a share.
P&G stock was down 5.3 percent at $59.77 in premarket trading.
(Reporting by Emily Stephenson; Editing by Lisa Von Ahn and John Wallace)