WD-40 Company sales up 6 percent
WD-40 Company posted net sales for the fourth quarter of $97.2 million, an increase of 6 percent compared to the prior year fiscal quarter.
Net sales for the full fiscal year were $380.7 million, an increase of 1 percent compared to the prior fiscal year.
Net income for the quarter was $14.2 million, an increase of 21 percent compared to the prior year fiscal quarter. For the full fiscal year, net income was $52.6 million, an increase of 17 percent from the prior fiscal year.
Diluted earnings per share were 99 cents in the quarter, compared to 80 cents for the prior year fiscal quarter. Full fiscal year diluted earnings per share were $3.64 compared to $3.04 in the prior fiscal year.
Net sales in the Americas increased 7 percent in the fourth quarter primarily due to an 11 percent increase in maintenance products sales, slightly offset by a 10 percent decrease in homecare and cleaning product sales. The increase in maintenance products sales in the segment was driven primarily by increased sales in the United States, which benefitted from a higher level of promotional activities for all maintenance products as well as expanded distribution of the WD-40 EZ Reach Flexible Straw product.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
