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Clorox fiscal 3rd-quarter profit rises 53 percent

Consumer products maker The Clorox Co. said on Friday profit rose 53 percent in its fiscal third quarter, as lower commodity costs and cost savings helped offset weakness from a stronger dollar.
/ Source: The Associated Press

Consumer products maker The Clorox Co. said on Friday profit rose 53 percent in its fiscal third quarter, as lower commodity costs and cost savings helped offset weakness from a stronger dollar.

The maker of Brita water filters and Glad bags said profit rose to $153 million, or $1.08 per share, compared with $100 million, or 71 cents per share, a year ago.

For the quarter ended March 31, sales remained flat at $1.35 billion, hurt by a stronger dollar.

Analysts polled by Thomson Reuters expected earnings of 90 cents and sales of $1.37 billion.

"We benefited from moderating input costs, continued strong cost savings and improved productivity," Chief Executive Don Knauss said in a statement.

Gross margin improved because of moderating commodity costs and price increases.

Separately, Clorox raised its 2009 earnings per share outlook because of favorable commodity cost expectations and higher cost savings.

In morning trading, Clorox shares fell 4 cents to $56.01.