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Blames Venezuela for decline.
January 23, 2015
By: TOM BRANNA
Editor
Continued fluctuations in Venezuela's currency exchange rate contributed to an $83 million net income loss for Irving-based Kimberly-Clark Corp. in its fourth quarter. That compared with a profit of $539 million, or $1.40 a share, in the same quarter a year ago. Using an exchange rate of 50 bolivars per US dollar, Kimberly-Clark recorded a charge of $462 million in fourth quarter 2014 for its Venezuelan assets. Despite the fact that the exchange rate is expected to reduce total company ...
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