Oil-Dri Profit Falls Despite Revenue Growth

(RTTNews) - Oil-Dri Corp of America (ODC) Friday reported first-quarter net earnings of $2.1 million or $0.30 per share compared with $2.9 million or $0.41 per share last year.

Revenues for the quarter were up 4% at $66 million compared with $63.5 million in the prior year.

Chief Executive Daniel Jaffee said, "While sales increased in the quarter, the overall mix of products sold negatively impacted earnings. Our costs for natural gas moderated in the quarter, but costs continue to rise in other areas..."

CEO Jaffee said that some of the challenges the company faced during the last half of fiscal 2014 moderated, and that it is working on new projects to expand its product offerings.

Oil-Dri Corp is a supplier of specialty sorbent products for agricultural, horticultural and other markets, and is the world's largest manufacturer of cat litter.