Clorox profit and sales up, sticks to 2013 forecast

Thu Aug 2, 2012 8:40am EDT

Aug 2 (Reuters) - Clorox Co posted a higher quarterly profit on Thursday, as price increases, lower advertising spending and a lower tax rate offset higher costs, and it stood by its forecast for the current fiscal year.

Clorox earned $174 million, or $1.32 per share, in the fiscal fourth quarter that ended in June, up from $169 million, or $1.26 per share, a year earlier.

Sales rose 4 percent to $1.54 billion. The volume of goods sold rose 2 percent.

Clorox said it still expects to earn $4.20 per share to $4.35 per share in fiscal 2013, with sales up 2 percent to 4 percent.

Clorox raised the U.S. price of bleach 12 percent last August to counter rising material costs that have cut into profits. Clorox, whose products include cleansers, charcoal, salad dressing and water filters, is more heavily exposed to volatile commodity prices than some larger peers. The commodities Clorox buys include resin, diesel, chlor-alkali and sodium hypochlorite.

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