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Multi-Purpose Maintenance Big at WD-40



Published July 9, 2014
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WD-40 posted favorable financial results for its fiscal third quarter ended May 31, 2014.Total net sales for the third quarter increased 3% to $95.7 million. Year-to-date total net sales were $285.4 million, an increase of 4%, according to the company, which reported that multi-purpose maintenance products were a big driver in sales so far. Net income inched up 1% to $10.4 million.
 
"We are pleased with the solid progress we have made for the year and remain confident that our strategic initiatives are well positioned to carry us into the future," said Garry Ridge, WD-40 Company's president and chief executive officer. "While we continue to see fluctuations in certain markets quarter to quarter, our long-term growth plans remain stable and we continue to deliver on our expectations."


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