Summary Box: Kimberly-Clark net income rises in 2nd quarter, company lowers revenue outlook
By APFriday, July 23, 2010
Summary Box: Kimberly-Clark 2nd-quarter results
THE GOOD: Kimberly-Clark Corp., the maker of Kleenex tissues and Huggies diapers, said second-quarter net income rose 24 percent, above analyst expectations, helped by higher selling prices and cost cuts.
THE BAD: But revenue was weaker than expected as consumers traded down to cheaper private-label products in some cases. The company lowered revenue guidance for the year.
THE OUTLOOK: The company expects commodity costs to fall and revenue, excluding currency and acquisitions, to pick up in the second half of the year.
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