Research Desk Line-up: Lifetime Brands Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 24, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Oakland based The Clorox Co. (NYSE: CLX), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CLX. The Company announced on August 21, 2017, that it has signed an agreement to sell the Aplicare skin antisepsis business to Medline Industries ("Medline"), the largest privately held manufacturer and distributor of medical supplies providing products, education, and services in the US. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Housewares & Accessories industry. Pro-TD has currently selected Lifetime Brands, Inc. (NASDAQ: LCUT) for due-diligence and potential coverage as the Company reported on August 08, 2017, its financial results for Q2 which ended on June 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Lifetime Brands when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CLX; also brushing on LCUT. Go directly to your stock of interest and access today's free coverage at:

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Agreement Doesn't Change Strategic Focus of Clorox's Professional Products Business

Commenting on the agreement, Benno Dorer, Chairman and Chief Executive Officer of Clorox, stated that selling Aplicare, which was part of the Company's Professional Products business, was the result of its periodic strategic assessment of the global portfolio. The Company is pleased that it has found Medline which possesses strong capabilities and can add significant value to the Aplicare business. Benno further added that this does not change the strategic focus of Clorox's Professional Products business which continues to aim at stopping the spread of infection, with an emphasis on killing pathogens in the environment.

Aplicare's Net Sales Represent less than 1% of Clorox's Total Sales

Clorox had been exploring strategic alternatives for Aplicareas announced in the Company's fiscal year 2017 SEC filings. Clorox earlier reported that for fiscal year 2017, which ended June 30, 2017, the Aplicare business had $46 million in net sales, representing slightly less than 1% of total the Company's sales, and insignificant net earnings. Clorox will provide an updated fiscal year 2018 outlook during Q1 2018 earnings call on November 01, 2017.

Earnings Results

Fiscal Fourth-Quarter Results

In its Q4 FY17 financial results announced on August 03, 2017, Clorox's sales totaled $1.65 billion. The Company's volume and sales grew 3% y-o-y each, both reflecting 1 point of growth from the RenewLife digestive health business, which was acquired in May 2016.

Clorox's Q4 FY17 gross margin increased 30 basis points to 45.7% from 45.4%, reflecting the benefits of cost savings, price increases and lapping the year-ago one-time integration costs related to the RenewLife acquisition, partially offset by higher manufacturing and logistics costs and unfavorable commodity costs. The Company delivered earnings from continuing operations of $202 million in the reported quarter, compared to $165 million in the year-ago quarter. Fourth-quarter diluted EPS was $1.53, versus $1.26 in Q4 FY16, representing growth of 21%.

About The Clorox Company

The Clorox Company is a leading multinational manufacturer and marketer of consumer and professional products with about 8,000 employees worldwide. The Company markets some of the most trusted and recognized consumer brand names, including its namesake bleach and cleaning products; Pine-Sol® cleaners; Liquid Plumr® clog removers; Poett® home care products; Fresh Step® cat litter; Glad® bags, wraps and containers; Kingsford® charcoal, to name a few.

About Medline Industries

Based in Northfield, Illinois, Medline Industries is the largest privately held manufacturer and distributor of medical supplies uniquely positioned to provide products, education, and support across the continuum of care. The Company markets wound and skin care products, gloves, face masks, isolation gowns, monitors, reusable textiles, durable medical equipment, incontinence products, sterile products, electrosurgical products, and housekeeping supplies.

Last Close Stock Review

Clorox's share price finished yesterday's trading session at $138.72, slightly sliding 0.23%. A total volume of 479.57 thousand shares have exchanged hands. The Company's stock price advanced 4.47% in the last three months, 2.13% in the past six months, and 6.34% in the previous twelve months. Additionally, the stock rallied 15.58% since the start of the year. Shares of the Company have a PE ratio of 25.98 and have a dividend yield of 2.42%. The stock currently has a market cap of $17.83 billion.

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SOURCE: Pro-Trader Daily