Kimberly-Clark Corp. (NYSE: KMB – $111.54) reported net income of $468 million and adjusted net income of $1.42 per share, in the first quarter, compared with $1.26 a share in the year-earlier period, well above the consensus of $1.33. Sales fell 4% to $4.7 billion, but were ahead of the Street estimates of $4.6 billion. Performance benefited from organic sales growth, cost savings and a lower share count. In the report the company said comparisons were negatively impacted by unfavorable foreign currency exchange rate effects and a higher adjusted effective tax rate. Kimberly-Clark also confirmed full-year per share guidance of $5.60 to $5.80. The company still faces stiff competition and will continue to feel the effects of the strong dollar abroad, but for conservative income accounts, the shares, yielding 3.3%, can be held.