Energizer Holdings, Inc. announced results for the first fiscal quarter, which ended December 31, 2013 . In a release on January 29 , the Company reported net earnings per diluted share of $1.71 , a decrease of 17.4 percent and adjusted net earnings per diluted share of $2.10 , down 4.5 percent, compared to the prior year first fiscal quarter. "First quarter adjusted net earnings per diluted share were in- line with expectations as lower spending and accretion from the recently acquired feminine care brands helped offset organic top- line softness," said Ward M. Klein , Chief Executive Officer. "However, we were disappointed by the sluggish top-line performance within our Personal Care Division. We believe heightened promotional activity over the past year has adversely impacted first quarter consumer demand and overall category volumes. In addition, our results were negatively impacted by unfavorable global currencies, and pricing controls and import restrictions in certain Latin American countries. We believe that many of these unfavorable trends will continue at least through the first half of our fiscal year. Despite these headwinds, we remain committed to maintaining our planned investment levels in support of our brands. As a result, we have modified our full year adjusted net earnings per diluted share outlook to $7.00 to $7.25 ." "In addition, we have expanded the scope of our restructuring project in an effort to increase our financial flexibility to help enable us to offset future volatility and provide for increased investment funds. As a result of the excellent progress made thus far, and projected benefits from the expansion of scope, we have increased our total project gross savings estimate from $225 million to $300 million . The increased savings are expected to be realized throughout fiscal 2015 and 2016, and the total run rate impact is expected to be realized in fiscal 2016." ((Comments on this story may be sent to email@example.com ))
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