DEERFIELD, Ill. -- Fortune Brands Inc., the parent company of golf titan Acushnet, along with such brands as Jim Beam whiskey and Moen faucets, said first quarter profit was essentially flat as strong international results helped offset weakness in the U.S. housing products market.

For the first quarter of 2008, Acushnet (which operates the Titleist, FootJoy and Cobra Golf brands), reported a new record of net sales at $396.4 million, up 8 percent from the 367.1 million reported in the same period a year ago. However, operating income for the quarter was $51.5 million, down 3.9 percent from the $53.6 million in the year-ago period.

"In golf, new advanced-technology products helped us achieve a first-quarter sales record with growth in every product category and in all key geographies," said Fortune Brands President and CEO Bruce Carbonari. "That included especially strong growth in Japan and Korea, two key markets where we're investing to expand our business," Carbonari added.

Across Fortune Brands as a whole, net income rose only slightly to $120.5 million from $120.2 million. The per share result was flat at 77 cents. Excluding divested businesses and certain one-time items, earnings fell to 75 cents per share from 81 cents.

The adjusted result was 3 cents below the estimate of analysts surveyed by Thomson Financial. Fortune Brands had said earnings per share could be flat to down in the high-single digits percentage wise.

Sales fell about 5 percent to $1.81 billion from $1.91 billion. Fortune Brands recorded double-digits gains in international sales, led by liquor brands including Jim Beam, Courvoisier and Teachers; golf brands Titleist, Cobra, FootJoy; and Master Lock products. But sales in the home and hardware division, the company's largest, fell overall by about 13 percent.

Fortune Brands said its U.S. spirits business was hurt as distributors took larger-than-usual reductions in inventories. The company said sales of premium spirits increased during the quarter.

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