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WD-40 Sales Up 9% in 2Q

WD-40 Company (NASDAQ: WDFC), San Diego, CA, reported sales for the fiscal second quarter, ended Feb. 28, 2014, of $94.2 million, an increase of 9 percent year-over-year. Net income was $10.3 million, a decrease of 1 percent.

For the first six months of the fiscal year, sales were $189.7 million, up 4 percent from the same period the previous year. Net income for the period was $21.8 million, an increase of 2 percent.

Second quarter multi-purpose maintenance products sales, which include the WD-40 and 3-IN-ONE brands, were $83.8 million, up 11 percent from the prior year fiscal quarter, and $167.8 million year-to-date, up 7 percent from the same period last fiscal year.

Homecare and cleaning products sales, which include all other brands, were $10.4 million for the second quarter, down 8 percent, and were $21.9 million year-to-date, down 11 percent, both as compared to the prior fiscal year periods.

Americas segment sales in the second quarter were $45.2 million, up 12 percent and were $89.3 million year-to-date, up 4 percent compared to the same periods last fiscal year period. The Europe, Middle East, Africa and India segment sales in the second quarter were $38.1 million, up 16 percent from the prior year fiscal quarter and were $74.6 million, up 9 percent compared to the prior fiscal year period. Asia-Pacific segment sales were $10.9 million in the second quarter, down 21 percent and were $25.8 million year-to-date, down 8 percent compared to the same periods last fiscal year.

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