|
Clorox 1Q profits clean up
|
 |
October 25, 2000: 9:39 a.m. ET
Firm edges past forecasts, says it is on track for full year double-digit growth
|
NEW YORK (CNNfn) - Consumer products maker Clorox Co. edged past fiscal first-quarter forecasts Wednesday and said it is on track for the full-year earnings forecasts.
The Oakland, Calif.-based company earned $100 million, or 42 cents a diluted share, before a charge for change in accounting practices. That's 1 cent a share better than the forecast of analysts surveyed by earnings tracker First Call and up from the $87 million, or 36 cents a share, it earned excluding charges a year earlier.
 Sales rose about 5 percent to $985 million from $942 million.
"The results this quarter are consistent with our goals of generating mid-single-digit top-line growth and low-double-digit earnings growth for the full fiscal year," Chairman and CEO Craig Sullivan said. "We are on track with a number of cost-saving initiatives and focused on improving working capital, to continue to grow our profits faster than sales."
First Call's forecast calls for fiscal 2001 earnings of $1.95 a share, up from $1.75 a share in fiscal 2000.
The company makes not only Clorox bleach, but also Glad garbage bags, Armor All auto cleaner, Kingsford charcol, and Formula 409, Pine-Sol and SOS cleaning products.
Shares of Clorox (CLX: Research, Estimates) gained $1.75 to $41.13 in trading Tuesday. 
|
|
|
|
|
|
Clorox
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
