Clorox said it earned $142 million down from $156 million. Results also included a charge of five cents a share related to the retirement of former chairman and chief executive officer Gerald Johnston, who stepped down in May for health reasons. Sales for the three months ended June 30 increased to $1.32 billion from $1.25 billion in last year's fourth quarter. Volume slipped less than 1%. Fiscal year sales were 4.6 billion.
Clorox, like other consumer products companies, is being pressured by rising costs for raw materials, especially oil, derivatives of which are a major ingredient in many of its cleaning products.
For fiscal 2007, Clorox still expects sales growth in line with its prior long-term target of 3% to 5%.