Clorox posts higher profit, stands by 2013 view

Reuters

Clorox Co posted a higher quarterly profit and maintained its forecast for the fiscal year on Wednesday, buoyed by price increases on products such as bleach, as well as by cost cuts.

Earnings rose to $133 million, or $1.01 per share, in the first quarter ended on September 30, up from $130 million, or 98 cents per share, a year earlier.

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Sales rose 3 percent to $1.34 billion, while the volume of goods sold declined 1 percent.

Clorox, whose other products include Kingsford charcoal and Brita water filters, said it still expected to earn $4.20 to $4.35 per share in fiscal 2013 and that sales would rise 2 percent to 4 percent. (Reporting by Jessica Wohl in Chicago; Editing by Lisa Von Ahn)