WD-40 (WDFC Quote) missed its fourth-quarter earnings target, citing rising marketing spending.
The San Diego-based lubricator made $6.3 million, or 37 cents a share, for the quarter ended Aug. 31. That's down from the year-ago $10.5 million, or 63 cents a share. Sales fell to $75.2 million from $76.3 million a year earlier.
Analysts surveyed by Thomson Financial were looking for a 38-cent profit on sales of $76.8 million.
"Our fourth quarter didn't track along in proportion with our historical sales patterns as a result of the timing of promotions and new product introductions," CEO Garry O. Ridge said. "We also invested more in marketing to support innovations introduced over the past year. We expect that investment to help our brands going forward." ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,414.14 | 1,114.05 | 2,237.66 | 36.82 |
Oil *
72.73
|
|
UP
85.25
|
UP
11.58
|
UP
25.97
|
UP
1.36
|
10 Yr
3.68%
SPDR Gold
106.95
|
|
+0.83%
|
+1.05%
|
+1.17%
|
+3.84%
|
Data delayed 20 minutes |
Connect with TheStreet