Clorox Confirms Earnings Guidance Despite Argentine Peso Devaluation.Business Editors OAKLAND, Calif.--(BUSINESS WIRE)--Jan. 7, 2002 The Clorox Company (NYSE NYSE See: New York Stock Exchange :CLX (library, graphics) CLX - The Common Lisp library providing a low-level interface to the X Window System, equivalent to Xlib. Graphics toolkits can be built on top of CLX, e.g. McCLIM, Garnet, CLUE and CLIO. ) (PSE PSE 1. pale soft exudative pork. 2. portosystemic encephalopathy. :CLX) Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Craig Sullivan reiterated the company is on track to deliver against its latest fiscal year 2002 earnings estimate of $1.82 to $1.87 per share before special charges, despite the recent devaluation devaluation, decreasing the value of one nation's currency relative to gold or the currencies of other nations. It is usually undertaken as a means of correcting a deficit in the balance of payments. of the Argentine peso. Commenting on today's announcement, Mr. Sullivan said, "Our most recent fiscal-year earnings guidance anticipated some Latin America currency and economic weakness. While we expect that the currency impact from a devaluation in the range of 40 percent to 50 percent would reduce overall company sales for the full fiscal year by about 1 percent, results in other areas, including the benefits from cost-saving projects, should allow us to deliver against our earnings targets." The Clorox Company is a $3.9 billion, multinational manufacturer and marketer of household products and products for institutional markets. Except for historical information, matters discussed above, including statements about future volume, sales and earnings growth, profitability, costs, cost savings or expectations, are forward-looking statements based on management's estimates, assumptions and projections. Important factors that could cause results to differ materially from management's expectations are described in "Forward-Looking Statements and Risk Factors" and "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operation" in the company's SEC Form 10-K for the year ending June 30, 2001, as updated from time to time in the company's SEC filings. Those factors include, but are not limited to, general economic and marketplace conditions and events, the company's costs, disruption associated with staff reductions, risks inherent in litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. or international operations, the success of new products, integration of acquisitions, and environmental, regulatory and intellectual property matters. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion