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Q1 Sales Slowly Climb at WD-40

February 7, 2014

WD-40 Company reported net sales for the first quarter ended Nov. 30, 2013 of $95.5 million, a slight increase from the first quarter last fiscal year and a record quarter for the company. Net income for the first quarter rose 5% to $11.5 million.

First quarter multi-purpose maintenance product sales, which include the WD-40 and 3-In-One brands, rose 3% to $83.9 million. The multi-purpose maintenance products are considered a primary focus for the company. However, home care and cleaning products sales, which include all other brands, fell 15% to $11.6 million. US home care and cleaning products are considered harvest brands providing healthy profit returns to the company and are becoming a smaller part of the business as the multi-purpose maintenance products sales grow. 

Americas segment sales in the first quarter slipped 3% to $44.0 million. The Europe, Middle East, Africa and India (EMEA) segment sales in the first quarter climbed 3% to $36.5 million. Asia-Pacific segment sales increased 4% to $15.0 million. Net sales by segment as a percent of total net sales were 46% from the Americas, 38% from EMEA and 16% from Asia-Pacific. 
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