The Procter & Gamble Company announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2016. For the quarter, the company reported net sales were $16.856 million against $16.915 million a year ago. Operating income was $3.875 million against $3.853 million a year ago. Earnings from continuing operations before income taxes were $3.256 million against $3.803 million a year ago. Net earnings from continuing operations were $2.561 million or $0.93 diluted earnings per share against $2.905 million or $1.01 diluted earnings per share a year ago. Net earnings attributable to the company were $7.875 million or $2.88 diluted earnings per share against $3.206 million or $1.12 diluted earnings per share a year ago. Non-GAAP operating income was $3.966 million against $3.982 million a year ago. Non-GAAP net earnings attributable to the company were $2.956 million or $1.08 diluted earnings per share against $2.983 million or $1.04 diluted earnings per share a year ago.

For the six months, the company reported net sales were $33.374 million against $33.442 million a year ago. Operating income was $7.646 million against $7.621 million a year ago. Earnings from continuing operations before income taxes were $6.994 million against $7.457 million a year ago. Net earnings from continuing operations were $5.436 million or $1.93 diluted earnings per share against $5.682 million or $1.97 diluted earnings per share a year ago. Net earnings attributable to the company were $10.589 million or $3.81 diluted earnings per share against $5.807 million or $2.03 diluted earnings per share a year ago. Cash from operating activities was $6.025 million against $8.018 million a year ago. Capital expenditure was $1.429 million against $1.223 million a year ago. Non-GAAP operating income was $7.826 million against $7.822 million a year ago. Non-GAAP net earnings attributable to the company were $5.861 million or $2.11 diluted earnings per share against $5.783 million or $2.02 diluted earnings per share a year ago.

The company announced that it is raising its guidance for organic sales growth from approximately 2% to a range of 2% - 3% for fiscal 2017. The company maintained its expectation for core earnings per share growth of mid-single digits versus fiscal 2016 core EPS of $3.67. All-in GAAP earnings per share are expected to increase 48% to 50% versus fiscal year 2016 GAAP EPS of $3.69. The fiscal 2017 GAAP EPS estimate includes approximately $0.12 per share of non-core restructuring costs and $0.13 per share of charges related to early debt retirement that was executed in the second fiscal quarter. Also included in GAAP EPS is the $1.95 gain from the divestiture of 41 Beauty Brands to Coty in a transaction that was completed on October 1, 2016.