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WD-40 Reports 5.8% Rise In Third Quarter Sales

August 6, 2008

WD-40 Company posted net sales for the third quarter ended May 31, 2008 of $82.1 million, an increase of 5.8%. Year-to-date net sales were $240.2 million, up 5%.

Net income for the third quarter was $8.1 million, up 5.6% compared to the prior year’s quarter. Year-to-date net income was $23 million, an increase of 3.1% from last year.

Third quarter lubricant sales were $61.2 million, up 8.2%, and $177.8 million for the first nine months, up 9.6%. Household products sales for the quarter were $19.2 million, down 1%, and were $57.7 million year-to-date, down 7%. Third quarter heavy-duty hand cleaner sales were $1.8 million, up 4.9%, and $4.7 million through nine months, up 1.6%.

Americas region third quarter sales were up 5.8% from a year ago and are down 4.3% year-to-date.

Europe region sales for the third quarter were up 3.4% and are up 17.9% year-to-date. Asia/Pacific region sales for the third quarter were up 16.1% from last year and are up 26.4% year-to-date.

Net income for the third quarter grew 5.6% to $8.1 million. Year-to-date net income was up 3.1% to $23 million.

WD-40 Company still expects fiscal year 2008 net sales to grow 4-8% to $320-$332 million. The company now expects net income of $30.0-$31.2 million for fiscal year 2008.
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