WD-40 sales up 3 percent
WD-40 Company reported net sales for the second quarter were $97.3 million, an increase of 3 percent compared to the prior year fiscal quarter.
Year-to-date total net sales were $193.7 million, up 2 percent from the prior year fiscal period.
Net income for the quarter was $11.3 million, an increase of 10 percent compared to the prior year fiscal quarter. Year-to-date net income was $22.1 million, an increase of 1 percent from the prior year fiscal period. Diluted earnings per share were 76 cents compared to 67 cents per share for the prior year fiscal quarter. Year-to-date diluted earnings per share were $1.49 compared to $1.41 in the prior year fiscal period.
Net sales of multi-purpose maintenance products, which are considered the primary growth focus for the company, grew 3 percent in the second fiscal quarter and 2 percent year to date when compared to the prior fiscal year periods. This growth was driven primarily by strong WD-40 Multi-Use Product sales in Asia-Pacific.
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.
