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Clorox net income nearly flat on higher taxes
Household products maker Clorox Co. says its fourth-quarter net income was nearly flat, even though its revenue rose one percent, because it paid higher taxes and had smaller margins.The company says it earned $171 million, or $1.20 per share, in the three months that ended June 30th. A year earlier, it earned $170 million, or $1.20 per share. The company's revenue was $1.52 billion in the quarter, helped by record shipments of Hidden Valley Ranch and Kingsford charcoal. Overall sales volume rose two percent. The earnings met the average forecast of analysts for $1.20 per share on revenue of nearly $1.51 billion. Clorox still expects to earn $4.50 to $4.65 per share for fiscal 2011, in line with estimates. Posted by: Fred 2010-08-04 |
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