Clorox Continues to Clean Up

by InvestorPlace Staff | August 2, 2012 9:35 am

Consumer and institutional products maker and InvestorPlace Dependable Dividend Stock[1] Clorox (NYSE:CLX[2]) continued on its most recent winning ways, announcing a sixth consecutive quarter of sales growth for its fourth quarter and fiscal year ending June 30.

For the quarter Clorox reported earnings of $174 million, or $1.32 diluted earnings per share, representing a 4% increase over last years $169 million, or $1.26 diluted earnings per share. Management attributed the increase to product price increases particularly in its bleach products segment, higher product sales[3], lower tax rates and lower advertising expenses compared to last year. Sales rose 4 percent to $1.54 billion for the quarter, a 2 percent rise over last year’s $1.48 million, helped by new businesses acquired earlier in the year.

The results topped analysts polled by Thomson Reuters, who expected the company to report earnings of $1.27 per share on revenues of $1.53 billion for the quarter excluding special items.

For the full fiscal year ended June 30, Clorox reported revenues of $5.4 billion, a 5% increase from 2010’s $5.2 billion, and an earnings increase to $4.10 diluted earnings per share against $4.02 diluted earnings per share for 2010.

Clorox anticipates sales growth to be in the range of 2 percent to 4 percent for fiscal year 2013, and for   earnings per share from continuing operations to be in the range of $4.20 to $4.35. Analysts expect the company to earn $4.28 per share on revenues of $5.66 billion for the year.

Written by InvestorPlace Staff

Source URL: https://investorplace.com/2012/08/clorox-continues-to-clean-up/

---