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WD-40 Q1 2019 net sales $101.3 million

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Staff Writer | Thursday January 10, 2019 4:24AM ET
WD-40
WD-40   Net income for the first quarter was $13.3 million

WD-40 Company reported financial results for its 2019 first fiscal quarter ended November 30, 2018.


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Total net sales for the first quarter were $101.3 million, an increase of 4 percent compared to the prior year fiscal quarter.

Translation of the Company's foreign subsidiary results from their functional currencies to U.S. dollars had an unfavorable impact on sales for the first quarter. On a constant currency basis, total net sales for the first quarter would have been $102.4 million, an increase of 5 percent compared to the prior year fiscal quarter.

Net income for the first quarter was $13.3 million, an increase of 5 percent from the prior year fiscal quarter.

Diluted earnings per share were $0.95 compared to $0.90 in the prior year fiscal quarter.

Gross margin percentage was 55.1 percent compared to 55.5 percent in the prior year fiscal quarter.

Selling, general and administrative expenses were up 5 percent in the first quarter to $32.7 million when compared to the prior year fiscal quarter.

Advertising and sales promotion expenses were up 17 percent to $6.0 million compared to the prior year fiscal quarter.

 
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