Clorox Profit More Than Doubles

Clorox Co., the largest U.S. household-bleach maker, said third-quarter profit more than doubled after costs fell.

Net income in the period ended March 31 rose to $110 million, or 50 cents a share, from $46 million, or 20 cents, a year earlier. Sales fell less than 1% to $1.02 billion, the first decline in almost two years, the company said.

Clorox, based in Oakland, reiterated that earnings would rise about 10% this quarter and at least that much next year.