WD-40 Company ends year with strong quarter
WD-40 Company reported net sales for its fiscal fourth quarter were $97.6 million, an increase of 4 percent compared to the prior year fiscal quarter.
Fiscal year total net sales were $383.0 million, an increase of 4 percent from the prior fiscal year.
Net income for the fourth quarter was $11.5 million, an increase of 42 percent compared to the prior year fiscal quarter. Fiscal year net income was $43.7 million, an increase of 10 percent from the prior fiscal year.
"We had a good quarter and a good year and are pleased we have been able to maintain sustainable growth across our core business globally," said Garry Ridge, WD-40 Company's president and chief executive officer.
Net sales of multi-purpose maintenance products, which are considered the primary growth focus for the company, grew 5 percent in both the fourth fiscal quarter and the full fiscal year. This growth was driven primarily by successful expansion of the WD-40 Specialist product line in all three segments and double-digit growth of WD-40 multi-purpose maintenance product sales in Europe and Asia-Pacific.
Net sales of homecare and cleaning products increased 4 percent in the current quarter and decreased 5 percent for the full fiscal year.
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.
