Tags: Clorox | earnings | profit | bleach

Clorox Posts Higher Profit, Stands by 2013 View

Wednesday, 31 Oct 2012 03:06 PM

Higher prices gave a boost to consumer products company Clorox in its fiscal first quarter and its net income climbed 2 percent.

Clorox Co., best known for its namesake bleach, earned $133 million, or $1.01 per share, for the period ended Sept. 30. That's up from $130 million, or 98 cents per share, a year ago.

This topped the 96 cents per share that analysts polled by FactSet expected.

Revenue increased 2 percent to $1.34 billion from $1.31 billion, buoyed by better sales in the U.S. and overseas.

Wall Street forecast $1.35 billion.

The cleaning division, which includes laundry, home care and professional products, reported an 8 percent rise in sales. The lifestyle unit, which includes dressings and sauces, water filtration and natural personal care, said its sales edged up 1 percent. Both segments were helped by price increases.

Household sales, comprised of bags and wraps, charcoal and cat litter, fell 3 percent, mostly on weakness in the charcoal business.

Abroad, sales rose 3 percent mostly on price hikes.

Gross margin improved to 42.9 percent from 41.8 percent on price hikes and cost-control efforts.

For fiscal 2013, Clorox still anticipates earnings between $4.20 and $4.35 per share. Revenue is still expected to rise 2 percent to 4 percent. Based on 2012's $5.47 billion, this implies revenue of $5.58 billion to $5.69 billion.

Analysts predict earnings of $4.29 per share on revenue of $5.65 billion.

The company's stock fell 43 cents to $71.67 in Wednesday afternoon trading.

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Higher prices gave a boost to consumer products company Clorox in its fiscal first quarter and its net income climbed 2 percent. Clorox Co., best known for its namesake bleach, earned $133 million, or $1.01 per share, for the period ended Sept. 30. That's up from $130...
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2012-06-31
Wednesday, 31 Oct 2012 03:06 PM
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