Clorox Posts Higher Q1 Profit

CHICAGO, Nov 2 - Clorox Co (CLX) posted a bigger-than-expected increase in quarterly profit, driven by strong sales of disinfecting products related to the H1N1 flu pandemic, lower commodity costs and price increases.

The maker of household goods such as Clorox bleach and Hidden Valley Ranch salad dressing earned $157 million, or $1.11 per share, in the fiscal first quarter, up from $128 million, or 90 cents per share, a year earlier.

Analysts had anticipated Clorox would earn 95 cents per share in the quarter, which ended on Sept. 30, according to Thomson Reuters I/B/E/S.

Clorox disinfecting wipes sold well as consumers remain concerned about H1N1, or swine flu. Overall sales fell less than 1 percent to $1.37 billion. Volume rose 1 percent.

The company said it now expects to earn $4.05 to $4.20 per share in the current fiscal year, which began in July. It previously forecast a profit of $4.00 to $4.15 a share.

Source: Reuters

« PREVIOUSNEXT »