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Blames Venezuela's devalued currency.
March 22, 2010
By: TOM BRANNA
Editor
Colgate-Palmolive expects to record a $275 million charge in its fiscal first quarter because of changes in accounting related to Venezuela‘s devalued currency, the consumer products maker said Monday. The one-time charge will amount to 53 cents per share. That’s in addition to a previously announced expectation that the devaluation would hurt earnings by between 6 and 10 cents per share for the year. Colgate-Palmolive has significant business in the South American nation that earl...
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