WD-40 Company (WDFC) Misses Q2 EPS by 1c, Offers Guidance

April 8, 2014 4:01 PM EDT

WD-40 Company (NASDAQ: WDFC) reported Q2 EPS of $0.67, $0.01 worse than the analyst estimate of $0.68. Revenue for the quarter came in at $94.2 million versus the consensus estimate of $92.3 million.

Fiscal Year 2014 Guidance

WD-40 Company continues to expect fiscal year 2014 net sales of $383 million to $398 million and net income of $40.5 million to $42.8 million. We expect diluted earnings per share of $2.65 to $2.80 based on an estimated 15.3 million weighted average shares outstanding. Gross margin for the full year is expected to be close to 51%. We also expect advertising and promotion expenses of 6.5% to 7.5% of net sales. This guidance does not include any acquisitions or divestitures, and assumes that foreign currency exchange rates will remain close to current levels.

"We continue to be on a solid platform for growth and even with the variability in certain markets, the ongoing challenges of raw material costs and the impact of foreign currency exchange rates, we remain cautiously optimistic about the future," Ridge said. "We are pleased that we have been able to continue to provide our shareholders a positive return."

For earnings history and earnings-related data on WD-40 Company (WDFC) click here.

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