Interest in disinfectants propels Clorox to 23-percent profit increase

OAKLAND, Calif.  — The Clorox Co. said Monday profit rose 23 percent in its fiscal first quarter, as consumers paid higher prices and stocked up on disinfecting products because of worries about the flu.

The maker of Brita water filters and Glad bags says profit rose to $157 million, or $1.11 per share, compared with $128 million, or 90 cents per share, a year ago.

Revenue declined less than 1 percent to $1.37 billion because of unfavorable exchange rates and weak demand for Glad trash bags. It also stopped making store-brand food bags.

The company also benefited from higher prices, especially overseas, which boosted gross margin.

Analysts polled by Thomson Reuters expected earnings of 95 cents and sales of $1.34 billion.

For full-year 2010, Clorox expects earnings between $4.05 per share and $4.20 and sales growth between 1 percent and 2 percent. The company previously forecast earnings per share between $4 and $4.15.

Analysts expect earnings per share of $4.18 and sales of $5.57 billion