Posted March 11, 2010
Oil-Dri Corp.'s sales fall 7%
Oil-Dri Corporation of America reported Q2 net sales of $54.73 million, a 7% decrease compared with $59.13 million for the same quarter last year.
Net income for the second quarter was $2.2 million, or 31 cents per diluted share, a 6% decrease compared with $2.3 million, or 33 cents per diluted share, in the same quarter one year ago.
Net sales for the six-month period were $108.13 million, a 12% decrease compared with $122.25 million for the same period one year ago. Net income for the six-month period was $4.45 million, or 61 cents per diluted share, a 5% decrease compared with $4.61 million, or 64 cents per diluted share, in the same period last year.
Net sales for the company's business-to-business products group were $36.13 million. Net sales for the retail and wholesale products group were $72 million. Net sales and unit volume were down for industrial and automotive products due to lower demand.
