Mixed Results for WD-40


Net income for WD-40 reached $8.1 million for the quarter ending Aug. 31, down 9 percent from the year-earlier period, while net sales were up 10 percent at $93.5 million.

Earnings per share fell to 53 cents per diluted share in WD-40s fiscal fourth quarter, compared to 56 cents in the year-ago period. San Diego-headquartered WD-40s fiscal year goes from Sept. 1 to Aug. 31.

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Compared to year-ago numbers, fiscal fourth-quarter sales in the Americas increased 1 percent to $47.3 million, sales in the Europe, Middle East and Africa segment rose 25 percent to $35.9 million, and Asia-Pacific sales went up 10 percent to $10.3 million.

Our results throughout EMEA have continued to be strong, and we expect that the sustainability of the economic recovery in that region will continue to provide positive results, said WD-40 President and CEO Garry Ridge. Our Asia Pacific business has grown steadily since 2009, and the preparations we have made in that region in the past year will support our continued growth. We had a record year in China and continue to focus on long-term opportunities there, but we do know there will be some volatility along the way due to promotional timing, the fluctuations of building distribution, shifting economic growth patterns and varying industrial activities.

Worldwide net sales for WD-40, 3-in-One lubricants and Blue Works brands rose 16 percent to $81.6 million, compared to the prior year quarter.

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