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Ecolab 1Q Profit Falls 44 Percent On Charge, Sales

The Associated Press

ST. PAUL, Minn. (AP) — Ecolab Inc., which provides cleaning and pest-control services, said Tuesday its first-quarter profit fell 44 percent on charges along with a decline in cleaning and sanitizing operations revenue.

Ecolab earned $57.4 million, or 24 cents per share, down from profit of $102.9 million, or 41 cents per share, in the same period last year. Sales fell 8 percent to $1.35 billion from $1.46 billion.

Excluding charges, the company said it earned 33 cents per share. Analysts polled by Thomson Reuters expected profit of 33 cents per share on revenue of $1.41 billion.

The company expects second-quarter profit between 46 cents and 50 cents per share and full-year profit between $1.95 and $2.05 per share, excluding one-time items. Analysts expect second-quarter profit of 48 cents per share and full-year profit of $1.96 per share.

Ecolab shares rose 90 cents, or 2.4 percent, to $38.31 in afternoon trading. The stock has traded between $29.27 and $52.16 over the last 52 weeks.