Clorox Picks Up Burt's Bees

Sales climbed to $1.24 billion from $1.16 billion a year earlier.

The results easily beat analysts' average estimates for a profit of 61 cents a share and sales of $1.21 billion, according to Thomson Financial.

Clorox said, however, that it expects gross margins this year to be hit buy higher commodity costs, particularly in the current quarter. To offset the rise, the company plans to lift prices on its Kingsford charcoal prices, and it recently boosted prices on its Hidden Valley salad dressing as well.

For the year, the company now sees earnings of $3.33 to $3.50 a share. While that's up modestly from its prior view of $3.27 to $3.46, Clorox said most of the boost is attributable to a recent accelerated share buyback plan.

Analysts project earnings of $3.31 a share for the fiscal year ending in June.