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Clorox 4Q profit falls, overseas sales drop

Published on NewsOK Modified: August 1, 2014 at 12:41 pm •  Published: August 1, 2014
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OAKLAND, Calif. (AP) — Clorox's fiscal fourth-quarter profit declined 7 percent, as foreign currency fluctuations weighed on its sales overseas.

The consumer product maker's results missed analysts' expectations.

The Oakland, California-based company said net income fell to $170 million, or $1.29 per share, from $183 million, or $1.37 per share, in the same quarter a year earlier.

Earnings from continuing operations were $1.30 per share. Analysts, on average, forecast earnings of $1.35 per share, according to a FactSet poll.

Revenue dropped 2 percent to $1.51 billion from $1.55 billion. Wall Street expected $1.52 billion in revenue.

International sales fell 8 percent in the quarter, hampered by foreign currency fluctuations. The cleaning segment reported a sales decline of 1 percent, and the household segment fell 2 percent.

There was a 2 percent rise in sales for the lifestyle segment, which includes natural personal care, water filtration and dressings and sauces.

Full-year net income slipped 2 percent to $558 million, or $4.23 per share, from $572 million, or $4.30 per share, in the previous year. Earnings from continuing operations were $4.26 per share.

Annual revenue declined to $5.59 billion from $5.62 billion.

Clorox Co. still anticipates fiscal 2015 earnings between $4.35 and $4.50 per share. It foresees sales about flat. Analysts predict earnings of $4.46 per share on revenue of $5.62 billion.

The company's stock added $1.22 to $88.09 in afternoon trading.