On Wednesday, Procter & Gamble (NYSE:PG) announced first-quarter net income of $3.35 billion, or $1.03 a share, a 9% increase over the $3.08 billion, or $0.92 a share, reported in the previous year. Sales for the period rose 9% to $22 billion. Analysts had expected the household products manufacturer to post earnings of $0.99 a share on revenue of $21.9 billion. For the 2009 fiscal year, the company now expects earnings to be in the range of $4.15 to $4.25 per share.

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