WD-40 continues its growth
WD-40, one of the world's most recognised household lubricants, continues to grow, showing another successful year's figures.
Although net income for its final quarter to 31 Aug 2010, showed a 10% drop on the previous year at $6.9m as a result of rising production costs, sales were up 4% on the same period in 2009 to $80.7m.
With quarterly revenue up 7% to $63.9m for the lubricants division, which includes the WD-40, 3-In-One and Blue Works brands, although the household cleaning products division saw a 7% revenue drop.
The results were ahead of market expectations and brought in a year of growth with final earnings of $36.1m, against $26.3m the previous year. Revenues also increased from $292m to $321.5m.
There was further good news from shareholders who were told that the company expects further growth of between 5.7% and 10.4% in 2011.
Published 25th October, 2010
