Kimberly-Clark profit up, but trims sales outlook

The company, known for Kleenex tissues and Huggies diapers, reaffirmed its profit outlook for the year.

Net income in the second quarter rose to $498 million, or $1.20 a share, compared with $403 million, or 97 cents a share, in the year-earlier period. Analysts polled by Thomson Reuters I/B/E/S had expected $1.13 a share.

Sales rose 2 percent from a year before to $4.86 billion, but that was below the $4.95 billion analysts had expected.

Kimberly-Clark, which competes against powerhouse Procter & Gamble Co in such categories as diapers, tissues and tampons, reiterated that it expects full-year earnings per share to more likely come in toward the low end of its forecast of $4.80 to $5.00.

However, the company cut its sales outlook, saying it now expects 2010 sales to rise 3 percent to 5 percent instead of 4 percent to 6 percent.

(Reporting by Ben Klayman, editing by Gerald E. McCormick)