Net income for WD-40 rose 64 percent for the fourth quarter ending Aug. 31, to $7.6 million compared to the year-earlier period. For the full fiscal year, net income totaled $26.3 million, down 5 percent from the previous years total.
Global sales of the lubricants WD-40 and 3-in-One reached $59.6 million in the fourth quarter, up 2.6 percent from the year-earlier period. For the full year, WD-40s global sales rose 4.6 percent to $225.1 million, compared to the prior year. San Diego-based WD-40s fiscal year runs from Sept. 1 to Aug. 31.
WD-40 on Oct. 14 reported net sales of $77.8 million for the quarter, up 1.1 percent from the year-earlier period. For the full year, WD-40 said net sales reached $292 million, down 7.9 percent compared to the year 2008 total.
While we have seen tough times during the past year with lots of uncertainty, our tribe focused on reaching our target goals and delivered impressive results, said Garry Ridge, WD-40 company president and CEO.
Earnings per share hit 46 cents in the fourth quarter, compared to 28 cents per share in the prior years fourth quarter. For the fiscal year 2009, earnings per share reached $1.58, down 3.7 percent from the previous year.
In the Americas, the companys fourth quarter sales rose 4 percent compared to the year-earlier period. For the full year, sales in the Americas declined 4.8 percent, compared to 2008.
During the year we made strategic decisions that should benefit us in the long-term, said Ridge. These include diverting R&D resources to our multi-purpose maintenance products and adjacent categories, exploring the opportunities for the WD-40 brand, developing our business through acquisitions and strategic partnerships, and continuing our efforts to expand geographically around the world.