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WD-40 Company Reports Second Quarter 2017 Financial Results
~ Global net sales of maintenance products grew 4 percent compared to prior year fiscal period ~
SAN DIEGO – April 6, 2017 ― 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 second fiscal quarter ended February 28, 2017.
Financial Highlights and Summary
“Fluctuating foreign currency exchange rates continue to obscure the true strength of our business and they negatively impacted both our top-line and bottom line results in the second quarter,” said Garry Ridge, WD-40 Company’s president and chief executive officer. “Even with the impacts of foreign currency headwinds included, we had 4 percent growth in sales of our maintenance products, which continue to be our core strategic focus, and a 5 percent increase in operating income. Our net income was negatively impacted as a result of fluctuations in some non-operating currency related items period over period, as well as an adjustment that we recorded to our income tax expense in the second quarter of this year. As we look to the remainder of fiscal year 2017, we’ve updated our fiscal year guidance and we remain confident in our strategy and are staying the course."
The following information was filed by Wd 40 Co (WDFC) on Thursday, April 6, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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