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WD-40 Company Reports Fourth Quarter and Fiscal Year 2015 Financial Results
~ Company reports diluted earnings per common share of $3.04 for fiscal year 2015 ~
~ Impacts of changing foreign currency exchange rates significantly reduced Company’s net sales in fiscal year 2015 ~
SAN DIEGO – October 15, 2015 ― WD-40 Company (NASDAQ:WDFC), a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world, today reported financial results for its fiscal fourth quarter and fiscal year ended August 31, 2015.
Financial Highlights and Summary
“Fiscal year 2015 was a year of solid operating performance that was obscured by the impacts of political events, economic instability, a strong U.S. dollar and a particularly weak euro against the pound sterling,” said Garry Ridge, WD-40 Company’s president and chief executive officer. “We have built a global company and approximately 40 percent of our sales are currently generated in currencies other than the U.S. dollar. With this comes risk. If you take both translation and transaction exposure into consideration, changes in foreign currency exchange rates reduced our total net sales by approximately $16 million for fiscal year 2015.
“Despite the challenged macroeconomic environment we made solid progress against our strategic initiatives and in local currencies delivered growth in all but a few of our markets around the world. We are very excited that we launched our newest product, WD-40 EZ-REACH™, in the U.S. during our fourth quarter and initial point of sale results have been encouraging.
“Equally exciting, our WD-40 Specialist® product line celebrated its fourth birthday in August of 2015 by achieving a global growth rate of 24 percent for the full fiscal year,” concluded Ridge.
The following information was filed by Wd 40 Co (WDFC) on Thursday, October 15, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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