WD-40 full-year sales up 7 percent
WD-40 Company reported net sales for the fourth quarter were $102.6 million, an increase of 6 percent compared to the prior year fiscal quarter.
Net sales for the full fiscal year were $408.5 million, an increase of 7 percent compared to the prior fiscal year.
Net income for the fourth quarter was $21.6 million, an increase of 51 percent compared to the prior year fiscal quarter. For the full fiscal year net income was $65.2 million, an increase of 23 percent from the prior fiscal year.
Diluted earnings per share were $1.54 in the fourth quarter, compared to $1.01 per share for the prior year fiscal quarter. Year-to-date diluted earnings per share were $4.64 compared to $3.72 in the prior fiscal year.
Net sales in the Americas were up 2 percent in the fourth quarter entirely due to a 9 percent increase in sales of maintenance products in the United States. This increase was partially offset by lower sales of maintenance products in Canada and Latin America. The higher sales of maintenance products in the United States were primarily due to an increase in sales of WD-40 EZ-REACH as well as the timing of promotional programs in the region.
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.
