Kimberly-Clark ( KMB), the maker of Kleenex tissues and Huggies diapers, saw profit sink 8% in the first quarter, but still managed to beat analysts' expectations.

The company said earnings fell to $407 million, or 98 cents a share, compared with $441 million or $1.04 in the same period last year, hurt by the strength of the dollar, which reduced earnings by about 30 cents a share.

Quarterly sales tipped 7% to $4.49 billion from $4.81 billion in the prior year.

Kimberly-Clark reaffirmed its full-year forecast, predicting a profit of $4 to $4.20 a share, despite the expectation of revenue dropping by 6% to 8% for the year.
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