NEW YORK (Reuters) - Clorox Co (CLX.)(N) disappointing published quarterly results and reduced its Outlook for the year Tuesday, hurt by the rising costs of packaging, and the actions of the manufacturer of consumer products fell Premarket 3 per cent.
To alleviate the pressure on its margins, the company said that he raised prices on its garbage bags happy 9.5%, which came into force on 2 May.
The company, which is also the Hidden Valley Ranch salad sauce and its namesake bleach water, is confident that new products such as Brita water bottles, the price increase and the appetite of affluent buyers it can help to rebound after a disappointing first half of the year.
Net profit was 151 million dollars, or $1.09 per share, in the exercise of third quarter ending in March, compared to a profit of 165 million dollars, or $1.16 per share, a year earlier.
Excluding items, the company earned $1.02 per share. On average, analysts expected $1.04 per share, according to Thomson Reuters I/B/E/s
Sales 1.3% to $ 1.30 billion, while analysts expected $ 1.32 billion, according to increased Thomson Reuters I/B/E/s
Clorox said it now expects 2011 earnings of $ 3.85 to $ 3.95 per action. Its previous forecast called for $ 3.85 to $ 4 per share. He said sales should be flat to down 1%, while the weakness of the economy continues to hurt sales in its categories. He said also many of it now expects its gross margin to decline from 75 to 100 basis points, due to the higher of the raw materials.
Fiscal 2012, the company said it expects earnings of $ 4 to $ 4.10 per share, including the investment is worth 18 cents to 20 cents per share. He expected sales increase by 1 to 3 per cent and its gross margin to reduce from 25 to 50 basis points.
On average, analysts expected earnings of $3.94 per share in 2011 and $4.40 per share for 2012.
Actions Clorox fell 3% to $67.90 in Premarket trade, to end Monday at $69.99 at the New York Stock Exchange.
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