CHICAGO (Reuters) - Kimberly-Clark Corp
The maker of Kleenex tissues and Huggies diapers earned $350 million, or 86 cents per share, down from $384 million, or 92 cents per share, a year earlier.
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Sales rose 4 percent to $5.03 billion.
Kimberly-Clark now expects materials costs to rise $450 million to $550 million this year, more than double its earlier assumption, due to higher costs for everything from pulp to oil-based materials.
It forecast 2011 adjusted earnings of $4.80 to $5.05 per share, with sales up about 4 percent to 6 percent, versus its January forecast of a profit of $4.90 to $5.05 per share, with a sales increase of 3 percent to 4 percent.
(Reporting by Jessica Wohl, editing by Maureen Bavdek)