08.03.09
Clorox reported solid earnings growth driven by stable sales and strong gross margin expansion for its fourth quarter and fiscal year 2009, which ended June 30, according to the company.
Fourth-quarter 2009 net earnings increased 8% to $170 million. Sales were unchanged at $1.5 billion, compared with the year-ago quarter.
"I'm extremely pleased with our strong performance in the fourth quarter, especially given continued economic pressure on consumers," said Chairman and Chief Executive Officer Don Knauss. “Clorox people around the world are doing a terrific job of executing the day-to-day business in a very tough environment."
For the fiscal year 2009, sales for fiscal 2009 grew 3% to $5.5 billion. Net earnings rose 16% to $537 million.
Commenting on the company's fiscal year 2009 results, Mr. Knauss said, "The organization delivered strong results in fiscal 2009. We made significant progress against our Centennial Strategy. We drove sales growth on core businesses … and we maintained our all-outlet market share. We returned to annual gross margin expansion for the year and, despite the challenging economic environment, we're continuing to invest in the long-term health of our brands."
Clorox also confirmed its fiscal year 2010 financial outlook, with an estimation of 1-2% sales growth.
Fourth-quarter 2009 net earnings increased 8% to $170 million. Sales were unchanged at $1.5 billion, compared with the year-ago quarter.
"I'm extremely pleased with our strong performance in the fourth quarter, especially given continued economic pressure on consumers," said Chairman and Chief Executive Officer Don Knauss. “Clorox people around the world are doing a terrific job of executing the day-to-day business in a very tough environment."
For the fiscal year 2009, sales for fiscal 2009 grew 3% to $5.5 billion. Net earnings rose 16% to $537 million.
Commenting on the company's fiscal year 2009 results, Mr. Knauss said, "The organization delivered strong results in fiscal 2009. We made significant progress against our Centennial Strategy. We drove sales growth on core businesses … and we maintained our all-outlet market share. We returned to annual gross margin expansion for the year and, despite the challenging economic environment, we're continuing to invest in the long-term health of our brands."
Clorox also confirmed its fiscal year 2010 financial outlook, with an estimation of 1-2% sales growth.