Clorox Earnings Decline on Stock Option Charge

Clorox Co., maker of bleach and other household products, posted a lower fiscal fourth-quarter profit, hurt by a charge related to stock options dating as far back as 1996.

Net income at the Oakland company fell to $142 million, or 92 cents a share, in the quarter ended June 30 compared with $156 million, or $1, a year earlier. Sales rose 5% to $1.32 billion, slightly exceeding forecasts.

Clorox recorded a charge of $16 million, or 11 cents a share, after a review of stock option practices. Excluding that, earnings per share were $1.03.