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WD-40 Company Reports Fourth Quarter and Fiscal Year 2017 Financial Results
~ Company reports diluted earnings per common share of $3.72 for fiscal year 2017 ~
SAN DIEGO – October 19, 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 fourth quarter and fiscal year ended August 31, 2017.
Financial Highlights and Summary
“Although stronger sales growth in fiscal year 2017 would have been a preferred result, I believe today’s financial results demonstrate that our robust business model and global diversification can deliver record earnings - even in times of currency headwinds,” said Garry Ridge, WD-40 Company’s president and chief executive officer.
“Our WD-40 Specialist product line continued to perform well and delivered 20 percent annual revenue growth in fiscal year 2017. This innovative product line, together with our ability to grow sales of the blue and yellow can with the little red top, represents a tremendous long-term opportunity for our organization.
“As we embark into fiscal year 2018 we believe the bulk of the recent foreign currency exchange headwinds are behind us and, accordingly, think it is an appropriate time to review our long-term revenue targets. Our revised long-term revenue target is to drive consolidated net sales to approximately $700 million in revenue by the end of fiscal year 2025,” continued Ridge.
The following information was filed by Wd 40 Co (WDFC) on Thursday, October 19, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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