WD-40 second quarter beats, sees strong fiscal year
(Reuters) - WD-40 Company (WDFC.O) posted second-quarter results that beat Wall Street expectations helped by higher sales in its Americas region, as well as lower advertising and promotions, and the consumer products maker forecast a strong 2012.
WD-40, which makes household lubricants and cleaning products, forecast full-year 2012 earnings of $2.33 per share to $2.45 per share on net sales of $353 million to $370 million.
Analysts, on average, were expecting earnings of $2.30 a share on revenue of $357.4 million, according to Thomson Reuters I/B/E/S.
Second-quarter net income rose to $10.6 million, or 65 cents a share, from $9.1 million, or 53 cents a share, last year.
Net sales rose 9 percent to $86 million, with those in the Americas segment growing 21 percent to $46 million.
Analysts, on average, were expecting earnings of 54 cents a share on revenue of $85.3 million.
Shares of the San Diego-based company were up 3 percent in extended trading. They had closed at $44.78 on Thursday on the Nasdaq.
(Reporting by Chris Jonathan Peters in Bangalore; Editing by Viraj Nair)
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