Kleenex Manufacturer Profits Down

Irving-Based Kimberly-Clark Pays More for Marketing and Materials

Wednesday, Oct 22, 2008  |  Updated 9:39 AM CDT
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Kleenex Manufacturer Profits Down

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UNDATED: This undated illustration shows Kleenex Brand Anti-Viral tissue. Kimberly-Clark Corporation announced on July 14, 2004 that the new facial tissue product designed to kill viruses that cause colds and the flu will be available at retail outlets throughout the U.S. by early October 2004. (Photo by Kimberly-Clark Corp. via Getty Images)

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Kimberly-Clark says its third-quarter profit declined 9 percent as it paid more for raw materials and ramped up its marketing efforts.

The Irving, Texas-based maker of Huggies diapers says net income declined to $413.1 million, or 99 cents per share, from $453.1 million, or $1.04 per share, last year.

Adjusted earnings for the quarter were $1.02 per share, compared with $1.07.

Revenue rose 8 percent to $5 billion from $4.62 billion, as sales of personal care products benefited from higher volumes and prices as well as currency exchange rates.

Thomson Reuters said analysts, who typically exclude one-time costs, expected profit of $1.01 per share on $4.99 billion in revenue.

Kimberly-Clark says commodity costs rose by $250 million in the quarter while marketing spending rose by $25 million. It also lowered its full-year profit outlook.

 

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