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WD-40 Grows Sales and Earnings, But Shares Decline

Shares in WD-40 Co. traded lower on Jan. 10 in the wake of the company’s earnings news the previous evening.

In midday trading Jan. 10, shares stood at $31.81, down more than 12 percent from their closing price on Jan. 9.

The maker of lubricants and other consumer products reported net income of $6.23 million, or 36 cents per diluted share, on net sales of $79.2 million in the company’s first quarter ended Nov. 30.

A year ago, the company reported net income of $5.69 million, or 33 cents per diluted share, on net sales of $72 million.

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Equity analysts polled by Thomson Financial had expected more out of the company , 41 cents per share, rather than the 36 cents the company produced.

WD-40’s Nasdaq symbol is WDFC.

, Brad Graves

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