WD-40 2Q sales up 9 percent
WD-40 Company reported net sales for the second quarter increased 9% to $94.2 million compared to the second quarter last fiscal year.
Year-to-date net sales were $189.7 million, up 4% from the same period last fiscal year.
Net income for the second quarter was $10.3 million, a decrease of 1% compared to the prior year fiscal quarter. Year-to-date net income was $21.8 million, an increase of 2% from the prior fiscal year period.
Second quarter multi-purpose maintenance products sales, which include the WD-40 and 3-IN-ONE brands were $83.8 million, up 11% from the prior year fiscal quarter, and $167.8 million year-to-date, up 7% from the same period last fiscal year.
Homecare and cleaning products sales, which include all other brands, were $10.4 million for the second quarter, down 8%, and were $21.9 million year-to-date, down 11%, both as compared to the prior fiscal year periods.
Americas segment sales in the second quarter were $45.2 million, up 12% and were $89.3 million year-to-date, up 4% compared to the same periods last fiscal year period.
In the second quarter, additional product offerings within the WD-40 Specialist product line were released in certain markets and distribution of existing offerings was further expanded.
"We continue our focus on multi-purpose maintenance products and we doubled the sales of the WD-40 Specialist product line in the second quarter over the previous year fiscal quarter," said Garry Ridge, WD-40 Company president and chief executive officer.
INDUSTRIAL SUPPLY MAGAZINE
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