Colgate-Palmolive Co said on Monday it will incur a one-time loss of $120 million, or 25 cents per share, in the first quarter of 2013, related to the devaluation of the Venezuelan currency.
In addition, Colgate expects earnings to be reduced by 5 cents to 7 cents per share per quarter in 2013, due to the translation of financial statements at the new Venezuelan exchange rate.
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The devaluation will not have any impact on its 2012 results, or its financial position, Colgate said.
(Reporting By Martinne Geller in New York; Editing by Gerald E. McCormick)