Net income in the fourth quarter of Clorox plunges on the increase in costs

OAKLAND, California (AP) - net profit in the fourth quarter of Clorox Co. has dipped 1% as the increase in raw material costs took a toll and the consumer product manufacturer said that it plans to raise the price soon to compensate for.The company manufactures bags happy garbage and household cleaners kept its prospects of revenues for the fiscal year in that it provides above, however, as it reports its earnings on Wednesday. And it reduced its budgetary estimate of fresh products for 2012.Many peer Clorox also face higher prices for the materials they need to make and transport of their products, and many have raised their prices. The Oakland, California, company and competitors must also persuade customers continue to buy as they get pressed by higher gas and grocery prices.Clorox now awaits its costs of the goods to rise between 140 million and 150 million for the year 2011. It earlier projected to increase from 160 million to $ 170 million.The company is dealing with OPA of the billionaire investor Carl icahn, who offered two times since mid-July to buy the company. Its first offer was $ 76.50 per action. After that Clorox rejected which, he offered $ 80 per share, but continued to urge the company to find a better offer from a competitor. Clorox Council said that its offer were not credible or big enough.Clorox said that it earned 169 million dollars, or $1.26 per share, in the quarter ended June 30. This is down from 171 million dollars, or $1.20 per share, a year earlier.But this is better than the adjusted earnings of $1.19 per share that analysts should on average, according to FactSet.The company said it bought back of 655 million of its shares in fiscal year 2011. Which boosted its earnings per share.Clorox said spending more advertising to support new products and enhance the reputation of the mark pinched his performance a little in the fourth quarter.Its gross margin slipped to 43.5% to 44.3%.Revenues for the quarter increased by 4% to $ 1.48 billion, topping Wall Street forecasts of $ 1.47 billion.Clorox reported its largest gain of foreign income. The 9% increase is due to higher prices and favourable foreign currency exchange rates.Revenues for its division lifestyle - which includes the salad dressings and sauces, filtration of the water and global natural care - rose by 5% with new flavors and shipments of the new bottle of over-go Brita.Recettes unit for cleaning of the company increased by 4 per cent, while the segment of the household edged 1 percent.For the year, Clorox earned 557 million dollars, or $4.02 per share. That compares to earnings of 603 million or $4.24 per share, the previous year.The adjusted net profit was $3.93 per share, taking a load of depreciation of goodwill related to bees undertaking its annual Burt.Revenu was essentially flat at $ 5.23 billion.You are looking to 2012 tax, Clorox anticipates earnings in a range of $ 4 to $ 4.10 per share, with revenue of 1% to 3%. Based on revenue for fiscal 2011 $ 5.23 billion, this would mean 5.28 to 5.39 billion in revenue.Analysts expect earnings of $4.07 per share on revenue of $ 5.35 billion.