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WD-40 Co. Posts 53 Percent Drop In 2Q Earnings

Stock quotes in this article: WDFC  

SAN DIEGO (AP) — Consumer products maker WD-40 Co. said Wednesday its fiscal second-quarter profit tumbled 53 percent on weaker sales to miss Wall Street expectations, sending the company's shares sharply lower in aftermarket electronic trading.

WD-40 earned $4.1 million, or 25 cents per share, compared with $8.7 million, or 51 cents per share, in the same quarter a year earlier. The latest quarter was hurt by a $2.8 million impairment charge for its Carpet Fresh asset and the stronger dollar's negative effect on international sales.

Revenue fell by 22 percent to $61.8 million from $78.9 million. ...

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