updated 11/1/2005 8:50:29 AM ET 2005-11-01T13:50:29

Procter & Gamble Co., maker of Pampers, Pringles, Tide and other consumer products, said Tuesday its fiscal first-quarter net income grew 4 percent, helped by strong revenue growth and despite the effects of hurricanes and rising energy and commodity costs.

For the quarter ended Sept. 30, net income rose to $2.03 billion, or 77 cents per share, from $1.94 billion, or 70 cents per share, in the previous year’s first quarter.

Sales for the quarter rose 8 percent to $14.79 billion from $13.74 billion, the company said, on unit volume growth of 6 percent. Organic volume, which excludes acquisitions and divestitures, increased 7 percent.

On average, analysts surveyed by Thomson Financial forecast earnings of 76 cents per share on revenue of $14.82 billion.

“We’re off to a good start with broad-based organic top-line growth,” said Chairman, President and Chief Executive A. G. Lafley. “P&G’s balanced business and geographic breadth has again demonstrated the ability to deliver consistent, reliable net sales and earnings per share growth in good and challenging times alike.”

Looking ahead to the current quarter ending in December, the company forecast net sales growth of 23 percent to 26 percent and earnings of 66 cents to 69 cents per share, including the impact of Gillette Co., the shaving supplies and battery maker that P&G acquired last month for $57 billion.

Thomson Financial forecasts quarterly earnings of 67 cents per share on revenue of $18.43 billion, on average.

For fiscal 2006, Procter & Gamble forecast net sales growth of 17 percent to 19 percent and earnings of $2.54 to $2.60 per share, including costs of about 11 cents per share to expense stock options.

According to Thomson, the company is expected to earn $2.58 per share for the year on revenue of $68.86 billion.

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