Clorox Company (CLX) has reported 4.07 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $179 million, or $1.36 a share in the quarter, compared with $172 million, or $1.31 a share for the same period last year. Revenue during the quarter grew 3.81 percent to $1,443 million from $1,390 million in the previous year period. Gross margin for the quarter contracted 61 basis points over the previous year period to 44.35 percent. Total expenses were 71.66 percent of quarterly revenues, up from 70.58 percent for the same period last year. That has resulted in a contraction of 108 basis points in operating margin to 28.34 percent.
Operating profit was unchanged at $409 million for the quarter, compared with the previous year period.
"Im very pleased about our solid start to the fiscal year, as investments behind our 2020 Strategy, including product innovation, resulted in continued strong topline growth," said chairman and chief executive officer Benno Dorer. "Notably, we grew volume in all U.S. and International segments. We also delivered these results on top of strong topline growth in the year-ago quarter."
Debt moves up
Clorox Company has witnessed an increase in total debt over the last one year. It stood at $2,407 million as on Sep. 30, 2016, up 8.52 percent or $189 million from $2,218 million on Sep. 30, 2015. Interest coverage ratio improved to 18.59 for the quarter from 17.78 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
