WD40 Company (WDFC, Financial) filed Quarterly Report for the period ended 2008-11-30.
WD-40 Company sells a petroleum-based product known as ``WD-40.`` WD-40 is a multi-purpose product which acts as a lubricant rust preventative penetrant cleaner and moisture displacer. They also sell the 3-IN-ONE Oil. 3-IN-ONE Oil is a lower cost general purpose lubricant that is useful when precise applications of a lubricant are needed. WD40 Company has a market cap of $463.15 million; its shares were traded at around $27.18 with a P/E ratio of 16 and P/S ratio of 1.46. The dividend yield of WD40 Company stocks is 3.56%. WD40 Company had an annual average earning growth of 3% over the past 10 years. GuruFocus rated WD40 Company the business predictability rank of 4-star.
Selling, general and administrative (SG&A) expenses for the first quarter of fiscal year 2009 decreased to $21.1 million, or 25.3% of net sales, from $21.2 million, or 26.8% of net sales, for the corresponding period in the prior fiscal year. The decrease in SG&A was largely attributable to the impact of foreign currency translation and to lower freight costs. Changes in foreign currency exchange rates compared to the corresponding period of the prior fiscal year decreased SG&A expenses by $1.3 million for the three months ended November 30, 2008. SG&A expenses for the first quarter of fiscal year 2009 translated at the exchange rates in effect for the corresponding period in the prior fiscal year would have produced total SG&A expenses of $22.4 million. Freight costs decreased $0.8 million primarily due to improved shipping efficiencies and reduced fuel costs. Partially offsetting these decreases were increases in employee-related costs, professional services costs, research and development costs and other miscellaneous expenses. Employee-related costs, which include salaries, profit sharing and other fringe benefits, increased $0.8 million due to annual compensation increases and higher staffing levels primarily to support the growth of international operations. Professional services costs increased $0.5 million primarily as a result of increased legal costs. Research and development costs increased $0.3 million due to the timing of new product development activity. Other miscellaneous expenses, including stock-based compensation and bad debt expense, increased by $0.4 million.
Read the The complete ReportMore on WDFC:
Gurus buys and sells of WDFC
10-year financial history of WDFC.
Insider buys/sells of WDFC.
WD-40 Company sells a petroleum-based product known as ``WD-40.`` WD-40 is a multi-purpose product which acts as a lubricant rust preventative penetrant cleaner and moisture displacer. They also sell the 3-IN-ONE Oil. 3-IN-ONE Oil is a lower cost general purpose lubricant that is useful when precise applications of a lubricant are needed. WD40 Company has a market cap of $463.15 million; its shares were traded at around $27.18 with a P/E ratio of 16 and P/S ratio of 1.46. The dividend yield of WD40 Company stocks is 3.56%. WD40 Company had an annual average earning growth of 3% over the past 10 years. GuruFocus rated WD40 Company the business predictability rank of 4-star.
Highlight of Business Operations:
Gross profit was $38.7 million, or 46.3% of net sales, in the first quarter of fiscal year 2009 compared to $37.5 million, or 47.3% of net sales, in the corresponding period of the prior fiscal year. As a percentage of net sales, gross profit decreased by 1.0 percentage point as we continued to experience the impact of higher costs of products, which have negatively affected gross margins in all of our business segments.Selling, general and administrative (SG&A) expenses for the first quarter of fiscal year 2009 decreased to $21.1 million, or 25.3% of net sales, from $21.2 million, or 26.8% of net sales, for the corresponding period in the prior fiscal year. The decrease in SG&A was largely attributable to the impact of foreign currency translation and to lower freight costs. Changes in foreign currency exchange rates compared to the corresponding period of the prior fiscal year decreased SG&A expenses by $1.3 million for the three months ended November 30, 2008. SG&A expenses for the first quarter of fiscal year 2009 translated at the exchange rates in effect for the corresponding period in the prior fiscal year would have produced total SG&A expenses of $22.4 million. Freight costs decreased $0.8 million primarily due to improved shipping efficiencies and reduced fuel costs. Partially offsetting these decreases were increases in employee-related costs, professional services costs, research and development costs and other miscellaneous expenses. Employee-related costs, which include salaries, profit sharing and other fringe benefits, increased $0.8 million due to annual compensation increases and higher staffing levels primarily to support the growth of international operations. Professional services costs increased $0.5 million primarily as a result of increased legal costs. Research and development costs increased $0.3 million due to the timing of new product development activity. Other miscellaneous expenses, including stock-based compensation and bad debt expense, increased by $0.4 million.
Read the The complete ReportMore on WDFC:
Gurus buys and sells of WDFC
10-year financial history of WDFC.
Insider buys/sells of WDFC.
