WASHINGTON (dpa-AFX) - Kimberly-Clark Corp. (KMB) reported that its fourth-quarter net loss attributable to the company was $83 million, compared to net income of $539 million last year. Net loss per share for the fourth quarter was $0.22, driven by a balance sheet remeasurement charge in Venezuela, while income per share for the prior year quarter was $1.40.
Fourth quarter adjusted earnings per share from continuing operations were $1.35 in 2014 compared to $1.30 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.37 per share for the quarter. Analysts' estimates typically exclude special items.
Sales of $4.8 billion in the fourth quarter of 2014 were down 1 percent compared to the year-ago period. Organic sales rose 3 percent, with net selling prices up 2 percent and volumes up 1 percent. Changes in foreign currency exchange rates reduced sales by 4 percent. Wall Street expected revenues of $4.91 billion for the quarter.
Full-year adjusted earnings per share in 2015 are expected to be $5.60 to $5.80, up 2 to 5 percent versus 2014 adjusted earnings per share from continuing operations. The outlook reflects expectations for 3 to 5 percent organic sales growth, substantial cost savings, modest commodity cost deflation and significantly unfavorable foreign currency exchange rates, including the ongoing impact of the currency rate change in Venezuela. Wall Street currently is looking for fiscal year 2015 earnings of $6.00 per share on annual revenues of $19.84 billion.
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