NEW YORK, February 3 (FinanceEnquiry.com) - The Clorox Co (NYSE: CLX) posted a much higher quarterly profit than expected. The profit of the 99-year old company was supported by cost cuts and a decision to increase prices on bleach and other goods. Clorox, which is best known for its namesake bleach, increased the US price of bleach in August by 12 percent to help fight rising material costs that have cut into profits. The prices of other products of the company, such as Formula 409 cleaning spray and Glad plastic wrap, were also raised last year.

In comparison with some larger peers, such as Procter & Gamble Co, Clorox, whose products range involves cleansers, charcoal, salad dressing and water filters, is more heavily exposed to unstable commodity prices. The commodities Clorox buys comprise resin, diesel, chlor-alkali and sodium hypochlorite. In the fiscal second quarter, the earnings of the company from continuing processes increased to $105 million, or 79 cents per share from $95 million, or 68 cents per share, a year ago. In the latest quarter, the company’s earnings were the same on a net basis. According to Thomson Reuters I/B/E/S, the analysts were seeking a profit of 68 cents a share, before one-time items.

The sales of the company were also increased by approximately 3.6 percent to $1.22 billion. Currently, the sales of the company are likely to rise 2 percent to 4 percent, compared to a prior forecast for 1 percent to 3 percent growth. In premarket trading, shares of Clorox rose to $70.59, which is more than its Thursday closing price of $68.73.