WD-40 Company (WDFC) Tops Q1 EPS by 1c; Guides In-Line

January 8, 2014 4:04 PM EST
WD-40 Company (NASDAQ: WDFC) reported Q1 EPS of $0.74, $0.01 better than the analyst estimate of $0.73. Revenue for the quarter came in at $95.5 million versus the consensus estimate of $97.89 million.

WD-40 Company sees FY2014 EPS of $2.65-$2.80, versus the consensus of $2.75. WD-40 Company sees FY2014 revenue of $383-398 million, versus the consensus of $385.9 million.

"We are pleased with our results in the quarter coming off of a great fiscal year 2013. While we only had a small increase in sales across the globe due to the timing of promotional activities, the first quarter was the largest sales quarter in our history," said Garry Ridge, WD-40 Company president and chief executive officer. "We remain confident that the base business we have established along with the continued focus on our revised strategic initiatives will produce solid results for the year."

Net sales by segment as a percent of total net sales were 46% from the Americas, 38% from EMEA and 16% from Asia-Pacific.

"Sales in the Americas decreased slightly due to declines in the homecare and cleaning products which offset modest growth in multi-purpose maintenance product sales," Ridge said. "In Asia-Pacific and EMEA, we had steady growth with some slight fluctuations caused by promotional timing as well as a small impact from foreign currency exchange rates in some of our Asian markets. During the first quarter, we also began distribution of the WD-40 brand in Albania, bringing the brand's global reach to 188 countries."

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


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