Church & DwightPreliminary Margin Structure (%)

* Excluding step-up charge – 31.4% for Q4, 30.7% for full year

Net Sales

Gross Profit

Marketing Expenses

SG&A Expense

Operating Income

100.0

29.3

(7.9)

(11.3)

10.1

2003

2002

Q4

100.0

30.1

(9.1)

(11.7)

9.3

*

287

84

(23)

(33)

29

268

81

(24)

(31)

25

(%)

(%)

($MM)

($MM)

100.0

30.1

(8.4)

(11.1)

10.6

2003

2002

Full Year

100.0

29.7

(8.2)

(11.5)

10.0

1057

318

89

117

112

1047

311

86

121

105

(%)

(%)

($MM)

($MM)

*

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