NEW YORK (AP) — Consumer product maker Colgate-Palmolive Co. said Thursday its fourth-quarter net income fell 6 percent, but adjusted results beat expectations as cost cuts offset higher raw material costs and the stronger dollar. Consumer product companies like Colgate Palmolive have been looking to offset stagnant sales in developed markets with growth in emerging markets overseas. The majority of Colgate-Palmolive's business is done overseas. The maker of its namesake toothpaste and soap said net income fell 6 percent to $564 million , or 60 cents per share. That compares with net income of $598 million , or 63 cents per share, last year. Excluding restructuring costs and other one-time items, income was 75 cents per share, ahead of the 74 cents per share analysts were expecting, according to FactSet. Revenue rose nearly 2 percent to $4.36 billion from $4.29 billion . The stronger dollar hurt results by 4.5 percentage points. Analysts expected revenue of $4.38 billion . Global volume rose 6.5 percent. For the year, net income fell 9 percent to $2.24 billion , or $2.38 per share. That compares with net income of $2.47 billion , or $2.57 per share, in 2012. Revenue edged up 2 percent to $17.42 billion from $17.09 billion . CEO Ian Cook predicted strong sales growth in 2014 fueled by new products across all categories and geographies. He said Colgate expects 2014 earnings per share growth in line with Street estimates. According to FactSet, analysts expect $3.09 per share for the New York company . Shares rose 14 cents to $61.73 in midday trading.
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