Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
SlideShare a Scribd company logo

CLOrox pl_q1fy06

•
•

The Clorox Company reported net sales of $1,104 million for the quarter ended September 30, 2005, up 5.4% from $1,048 million in the same period of the previous year. Gross profit was $466 million with a gross margin of 42.2%, down from 43.6% the previous year. Operating profit was $186 million with an operating margin of 16.8%, down from 19.2% the previous year due to $1 million in restructuring and asset impairment costs. Earnings before income taxes were $154 million.

1 of 1
Download to read offline
The Clorox Company Operating Profit Reconciliation schedule of operating profit to earnings from continuing operations before income taxes In millions Three months ended 9/30/05 9/30/04 Net sales $1,104 $1,048 Gross profit $466 $457 Gross margin (1) 42.2% 43.6% Operating expenses (2) $280 $256 Operating profit $186 $201 Operating margin (1) 16.8% 19.2% Restructuring and asset impairment costs $1 $30 Interest expense $30 $8 Other expense (income), net $1 ($4) Earnings from continuing operations before income taxes $154 $167 (1) Percentages based on rounded numbers (2) Operating expenses = selling and administrative expenses, advertising costs and research and development costs In accordance with SEC's Regulation G, this schedule provides the definition of a non-GAAP measure and the reconciliation to the most closely related GAAP measure. Operating margin is a measure of operating profit as a percentage of net sales, whereby operating profit (a non-GAAP measure) represents earnings from continuing operations before income taxes (a GAAP measure), excluding restructuring and asset impairment costs, interest expense and other expense (income), net, as reported in the Condensed Consolidated Statements of Earnings (Unaudited). Management believes the presentation of operating profit and margin provides useful information to investors about current trends in the business. Operating profit is a component for the calculation of management incentive compensation and employee profit sharing plans.

More Related Content

CLOrox pl_q1fy06

  • 1. The Clorox Company Operating Profit Reconciliation schedule of operating profit to earnings from continuing operations before income taxes In millions Three months ended 9/30/05 9/30/04 Net sales $1,104 $1,048 Gross profit $466 $457 Gross margin (1) 42.2% 43.6% Operating expenses (2) $280 $256 Operating profit $186 $201 Operating margin (1) 16.8% 19.2% Restructuring and asset impairment costs $1 $30 Interest expense $30 $8 Other expense (income), net $1 ($4) Earnings from continuing operations before income taxes $154 $167 (1) Percentages based on rounded numbers (2) Operating expenses = selling and administrative expenses, advertising costs and research and development costs In accordance with SEC's Regulation G, this schedule provides the definition of a non-GAAP measure and the reconciliation to the most closely related GAAP measure. Operating margin is a measure of operating profit as a percentage of net sales, whereby operating profit (a non-GAAP measure) represents earnings from continuing operations before income taxes (a GAAP measure), excluding restructuring and asset impairment costs, interest expense and other expense (income), net, as reported in the Condensed Consolidated Statements of Earnings (Unaudited). Management believes the presentation of operating profit and margin provides useful information to investors about current trends in the business. Operating profit is a component for the calculation of management incentive compensation and employee profit sharing plans.