Clorox's net grows 84%. (Financial News).* Clorox Clorox commercial name for a sodium hypochlorite preparation marketed as household bleach, but also used for disinfection. Co. posted an 84% jump in its fisical first quarter net income, led by strong sales and volume growth in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The household products maker also announced plans to sell its business in Brazil Brazil (brəzĭl`), Port. Brasil, officially Federative Republic of Brazil, republic (2005 est. pop. 186,113,000), 3,286,470 sq mi (8,511,965 sq km), E South America. . For the period ended Sept. 30, Clorox said its net income grew to $145 million, from $79 million in the year-earlier period. Clorox's earnings exceeded its revised forecast, with a raise in earnings guidance to a range of $0.52-0.55 cents a share in September September: see month. . Company executives cited continued cost cuts and increased confidence in its product offerings as the cause. In the last quarter, the company posted an estimated loss of $13 millin for the sale of its Brazilian business, which was classified as discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. . Last year's results included charges totaling $0.12 a share. Excluding items in both quarters, Clorox's earnings grew 42% to $158 million, or $0.71 a share, from $111 million, or $0.46 a share, a year earlier. Sales climbed 64.4% to $1.05 billion from $984 million a year earlier. Excluding divestitures, sales grew 8%. |
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