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Kimberly-Clark 4Q Profit Falls 6%

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Jan 24, 2008 7:30 am US/Central

Kimberly-Clark 4Q Profit Falls 6%

DALLAS (AP) ― Kimberly-Clark Corp., which makes Kleenex tissue and Scott paper towels, said Thursday its fourth-quarter profit dipped nearly 6 percent due to charges for cost cuts.

In the quarter ended Dec. 31, net income fell to $456 million, or $1.07 per share, from $482.6 million, or $1.05 per share in the prior-year quarter. The company had fewer shares outstanding in the most recent quarter.

Excluding charges for cost reductions, the company earned $1.11 per share, matching the estimates of analysts polled by Thomson Financial.

Revenue rose 11 percent, helped by strong sales in the personal care division, to $4.76 billion from $4.31 billion in the fourth quarter of 2006.

Analysts predicted revenue $4.65 billion for the quarter.

Irving-based company said it would likely earn between $1.05 and $1.08 in the first quarter, including charges for cost reductions. Analysts expected earnings of $1.10 per share.

Kimberly-Clark Corp., which makes Kleenex tissue and Scott paper towels, said Thursday its fourth-quarter profit dipped nearly 6 percent due to charges for cost cuts.

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