CarderPlanet
Professional
The cyberattack turned out to be too much for the manufacturer of household chemicals.
The cyberattack, which in August almost completely stopped the activities of a major manufacturer of household chemicals Clorox, will lead to a drop in sales of the company by 23-28% for the quarter ended September 30. The company also expects a loss for the quarter, instead of the nearly $150 million profit expected by investors.
The hack forced the company to disable a number of critical information systems, which led to disruptions in deliveries and delays in order processing . As a result, Clorox faced problems replenishing its product inventory. In addition, after the attack, Clorox shares fell by about 1% in trading.
After the attack, Clorox started manually processing orders. The company said that it is now returning to automated order processing, and hopes to restore deliveries to retailers.
The company, which had nearly $7.4 billion in revenue last year, expects "continued but diminishing" impacts from the attack in the second quarter, which began on October 1. Clorox now expects a stock loss of between $0.35 and $0.75 for the quarter, with analysts predicting earnings of $1.18 per share.
The cyberattack, which in August almost completely stopped the activities of a major manufacturer of household chemicals Clorox, will lead to a drop in sales of the company by 23-28% for the quarter ended September 30. The company also expects a loss for the quarter, instead of the nearly $150 million profit expected by investors.
The hack forced the company to disable a number of critical information systems, which led to disruptions in deliveries and delays in order processing . As a result, Clorox faced problems replenishing its product inventory. In addition, after the attack, Clorox shares fell by about 1% in trading.
After the attack, Clorox started manually processing orders. The company said that it is now returning to automated order processing, and hopes to restore deliveries to retailers.
The company, which had nearly $7.4 billion in revenue last year, expects "continued but diminishing" impacts from the attack in the second quarter, which began on October 1. Clorox now expects a stock loss of between $0.35 and $0.75 for the quarter, with analysts predicting earnings of $1.18 per share.
