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Swine Flu Profit Boost for Clorox
Bloomberg reports that Clorox reported a 23% increase in its 1st quarter profit thanks in part to an increase in sales of its disinfecting wipes because of the swine flu threat.
Net income climbed to $157 million, or $1.11 a share, from $128 million, or 90 cents, a year earlier, the Oakland, California-based company said today in a statement. Sales fell less than 1 percent to $1.37 billion.
U.S. and international sales of disinfecting wipes rose in response to demand for protection from the H1N1 influenza pandemic, Clorox said. Higher prices outside the U.S. also contributed to a wider gross margin, a measure of profitability. The company boosted its full-year earnings forecast to $4.05 to $4.20 a share from a previous projection of $4 to $4.15.
If some of the designer brands find about this we may end up with products like Ed Hardy Disinfecting Wipes just like we did Ed Hardy Sanitizer.
Posted on November 2, 2009
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