Sales, Income Up for WD-40


WD-40s net income totaled $11.5 million for the quarter ending Nov. 30, up 5 percent from the year-earlier period, while net sales were up slightly at $95.5 million.

Earnings per share rose to 74 cents per diluted share in the companys first fiscal quarter, compared to 69 cents a year earlier. San Diego-based WD-40s fiscal year goes from Sept. 1 to Aug. 31.

Compared to year-ago figures, fiscal first-quarter sales in the Americas declined 3 percent to $44 million, sales in the Europe, Middle East, Africa and India segment climbed 3 percent to $36.5 million, and Asia-Pacific sales climbed 4 percent to $15 million.

Garry Ridge, WD-40 company president and chief executive officer, said the quarter was the largest sales quarter in the companys history.

Sales in the Americas decreased slightly due to declines in the homecare and cleaning products, which offset modest growth in multi-purpose maintenance product sales, Ridge said. In Asia-Pacific and EMEA, we had steady growth with some slight fluctuations caused by promotional timing as well as a small impact from foreign currency exchange rates in some of our Asian markets.

Worldwide net sales for WD-40, 3-in-One lubricants and Blue Works brands increased 3 percent to $83.9 million, compared to the prior year quarter.

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