Dallas based Kimberly-Clark Corporation reported that sales in the second quarter of 2005 were $4.0 billion, an increase of 8.1 percent over the prior year. The improvement was driven by solid volume growth of more than 5 percent along with currency benefits of about 3 percent. Diluted net income of 88 cents per share for the quarter equaled income from continuing operations of 88 cents per share in 2004.
However, excluding incremental tax expense equivalent to 7 cents per share for repatriating earnings of certain foreign subsidiaries, earnings before unusual items in the second quarter of 2005 rose 8 percent to 95 cents per share.
In the second quarter of 2004, reported net income of 90 cents per share included 2 cents per share from discontinued operations, representing the results of the company's former fine paper and technical paper businesses that were part of the Neenah Paper spin-off to shareholders on November 30, 2004.
The company also announced a multi-year program to further improve its competitive position by accelerating investments in targeted growth opportunities, streamlining its worldwide manufacturing operations and enhancing the efficiency and cost effectiveness of its administrative operations.
Annual pretax savings are expected to increase to $300-$350 million by 2009. The savings will fund the stepped-up business building activities, helping ensure that the company meets or exceeds its Global Business Plan objectives for long-term sales, margin, earnings per share and return on invested capital (ROIC) growth.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
