Apr 21, 2014. /Lesprom Network/. Kimberly-Clark Corporation reported 1Q 2014 results. Sales of $5.3 billion in the 1Q 2014 were down 1% compared to the year-ago period. Organic sales rose 4%, with increased sales volumes of 3% and higher net selling prices of 1%. Foreign currency exchange rates were unfavorable by 3% and lower sales in conjunction with European strategic changes and pulp and tissue restructuring actions reduced sales by 2%, as the company said in the press release received by Lesprom Network.

Operating profit was $797 million in the 1Q 2014 versus $783 million in 2013. Adjusted operating profit was $853 million in the 1Q 2014 compared to $850 million in the year-ago period.

Adjusted results in 2014 exclude a $39 million charge related to a regulatory dispute in the Middle East, $10 million of restructuring costs for European strategic changes and $7 million of transaction and related costs for the company's potential spin-off of its health care business. Adjusted results in 2013 exclude a $36 million charge for the remeasurement of the local currency-denominated balance sheet due to the February 2013 devaluation of the Venezuelan bolivar and $31 million of restructuring costs for European strategic changes.

Chairman and CEO Thomas J. Falk said, "We delivered a solid 1Q with good organic sales growth and cost savings. We also launched a number of product innovations and made further progress with targeted growth initiatives. We continue to allocate capital in shareholder-friendly ways, as our 1Q dividends and share repurchases totaled three-quarters of a billion dollars. And although we face continued headwinds from currency exchange rates and cost inflation, we're maintaining our full-year guidance for adjusted earnings per share. We continue to be optimistic about the opportunities we have to drive profitable growth and generate attractive returns to shareholders."