Clorox announced it has priced the offering of $300 million aggregate principal amount of its 3.55 percent senior notes due Nov 1, 2015.
Clorox expects to benefit from increased demand for the bleach and disinfectant wipes used to slow the spread of swine flu as the U.S. braces for the disease’s resurgence.
Clorox delivered Q4 EPS of $1.20 compared to average analyst expectations of $1.19. However, the company's outlook raised some concerns as the company mentioned Walmart was not yet selling Clorox's newest detergent product in the US.
Aided by moderating resin costs, Clorox announced a better-than-expected 53% increase in quarterly profit. Its 2010 forecast fell short of expectations, however, causing its stock to drop 4%.
Clorox alleges that Timothy Bailey, a top executive who resigned April 14, has intimate knowledge of Clorox operations. SC Johnson says Bailey had not signed a noncompete agreement but will respect confidentiality.
CLX is offering a $5,000 reward and a year's supply of toilet products for information relating to the San Francisco toilet arsonist who has set ablaze more than 30 portable toilets.
Clorox will list ingredients of all its househould and industrial cleaning, disinfecting, and auto-care products by the end of 2009.
CLX net income for its second quarter ending Dec 31, 2008 dropped 6.5% from the previous year, amid falling volume. Net income was $86 million, compared to $92 million a year earlier. For 2009, the company forecasts growth of 3-5%
Clorox stated that it may expedite its share repurchase since its shares plummeted early in the month.
Clorox's quarterly profits and sales were below expected estimates due to higher commodity costs and competition.
Clorox announced that for the fourth quarter of 2007 it forecasts a 3-5% growth in sales.
