Oil-Dri sales up 4.5 percent
Oil-Dri Corporation announced net sales of $63.9 million for the fourth quarter, a 4.5% increase compared with $61.1 million in the same quarter one year ago.
Net income for the quarter was a record $4.7 million, or 67 cents per diluted share, compared to a net loss of $108,000, or 2 cents, for the same quarter a year ago. The loss in the fourth quarter of fiscal 2012 was due to the one-time charge incurred for the relocation of course clay production from Oil-Dri's Mounds, Illinois plant to plants in Mississippi.
Net sales for the year were nearly $250.6 million, a 4.1% increase compared to $240.6 million for fiscal 2012. Net income for the fiscal year was $14.6 million, or $2.07 per diluted share, up 143.5% from net income of $6.1 million, or 85 cents per diluted share, for fiscal 2012.
Net sales of Business to Business products for the fiscal year were up $7.5 million or 8.8% and segment income for the year was up $2.1 million or 7.3% from the same period one year ago.
Net sales of Retail and Wholesale products for the fiscal year were up nearly $2.4 million or 1.5% from one year ago, while segment income for the year was up $8.4 million or 403.4%.
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.
