clorox co swung to a quarterly profit and reported strongerthanexpected 2 sales growth in the march quarter but cut profit projections for the year citing commodity and manufacturing and logistics costs the company reported a thirdquarter profit of 150 million or 121 a share compared with a yearearlier loss of 61 million or 49 cents a share last years results reflected a noncash impairment related to the companys vitamins minerals and supplements business on an adjusted basis profit fell to 131 a share analysts surveyed by factset had expected a profit of 77 cents a share or 92 cents a share as adjusted and 179 billion in sales it now expects to make 360 to 385 a share for the year or 405 to 430 a share on an adjusted basis it had previously projected an annual profit of 380 to 405 a share or 425 to 450 a share as adjusted it said it still expects net sales for the year to decline by 1 to 4 higher commodity manufacturing and logistics costs are expected to take a higher toll on profit margins driving a roughly 8 decline in gross margin for the year clorox said it had earlier projected a roughly 75 decline while cost inflation continues to increase and uncertainty remains were seeing the strength and resiliency of our brands driving benefits across the business and the actions were taking to rebuild margin are gaining momentum chief executive linda rendle said in a statement