Diluted earnings per share were $0.55 Discount Omega the quarter and were $3.16 for the full year, benefiting from strong operating performance, favorable foreign exchange and a year-over-year net gain. On a before charges/gains basis, diluted EPS decreased 5 percent to $0.63 for the fourth quarter, reflecting the expected impact of higher year-over-year strategic investments to strengthen sustainable long-term growth for each business. For the full year 2010, diluted EPS before charges/gains increased 16 percent to $2.81. The company's most Discount Panerai expectation was for diluted EPS before charges/gains for 2010 to be toward the middle of its $2.60-2.90 target range. "2010 was an excellent year for Fortune Brands. We outperformed our markets, we delivered on our operational goals, and our businesses emerged from the recession in very strong Discount Patek Philippe. In addition to this strong performance, we announced our intention to separate our three businesses in 2011 to maximize long-term value for shareholders," said Bruce Carbonari, chairman and chief executive officer of Fortune Brands. "Our determination to go on offense during the economic downturn and boost strategic investment across our businesses made a big impact in 2010. Each of our businesses continued to strengthen its competitive position throughout the year, and Fortune Brands delivered Discount Porsche Design double-digit growth in 2010 earnings.
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